A three-year ban on initial public offerings in Shenzhen could soon be lifted, said Zhang Yujun, president of the city's stock exchange. Recent statements emanating from Beijing made him "very optimistic" about a reopening. The Shenzhen exchange was closed to new listings in 2000 ahead of a what turned out to be an aborted merger […]
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China is behind only the US and Japan in terms of spending on research and development, according to a report by the Organisation for Economic Co-operation and Development. It spent around US$60bn on R&D in 2001, less that a quarter spent in the US, but ahead of Germany. As a percentage of GDP, China's R&D […]
The central province of Hunan has decided to shelve a plan to sell large stakes in about 30 of its state-owned listed companies. The decision was taken after the central government and the securities regulator warned that the planned public auction in Shenzhen could turn into a disorderly fire sale. Government entities own about two-thirds […]
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Value judgements
The Chinese authorities hope that opening up the country's capital markets to foreign investors will boost their efficiency. However, this outcome is unlikely to happen without improved access to information, writes Professor Michael Pettis of Tsinghua University. In November 2002, the Beijing authorities announced the creation of a Qualified Foreign Institutional Investor (QFII) scheme that […]
China Merchants Holdings (International) has pledged RMB 8 billion over the next four years for an upgrade of its port facilities in western Shenzhen. During the same period the company is planning to spend a total of RMB 14 billion on the nine Chinese ports it holds stakes in. The Shenzhen municipal government will pay […]