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The Shanghai Stock Exchange (SSE) on Wednesday announced the incorporation of Nomura Securities Co.,Ltd. of Japan as its first special overseas member.
Another Japanese company, Naito Securities Co., Ltd., has become the first overseas securities company permitted to participate in B share trading at SSE.
In accordance with China's obligations as a member of the WTO, in July, the SSE announced provisional measures permitting the participation of overseas securities institutions in B share trading at SSE and provisional regulations providing for the incorporation of SSE's special overseas members.
These measures and regulations have been well received by representative agencies of overseas securities institutions in China. Many of them have presented applications to the SSE, according to SSE sources.
The SSE will respond to the applications for membership within one month and to those pertaining to status in B share trading, in three months.
(Xinhua News Agency November 7, 2002)
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