The chairman of the China Securities Regulatory Commission, Zhou Xiaochuan, has reiterated the Chinese government's commitment to greater foreign participation in the country's chaotic share markets.
Buried in an interview with the China Daily newspaper was a potentially extremely important suggestion. Zhou said that foreign companies would be able to list A shares. This means that Chinese investors would be able to invest in foreign companies who are financing their mainland operations through domestic sources of capital. The significance of this is that for it to be successful, a whole raft of other restrictions would have to be dismantled. Currency convertibility would have to be eased, onshore corporate...
