HK listings to test CSRC policy

Two Shanghai-listed firms plan to list subsidiaries on the Hong Kong stock exchange, the first to do so since the China Securities Regulatory Commission (CSRC) promulgated new regulations on listing spin-offs. China Animal Husbandry plans to list animal vaccine unit Qian Yuan Hao Biological within a year while Nanjing Textiles Import & Export plans to list property development subsidiary Nanjing Landsea Real Estate. Analysts said that the results from the two listings will educate the market on how the new regulations will be enforced.