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State firms cleared to list
CHINA'S state-owned enterprises can apply for a listing on the Nasdaq Stock Market in the United States following last week's signing of a memorandum of understanding between the Chinese and US securities watchdogs.
The regulatory framework will essentially pave the way for a US listing by the enterprises on the New York Stock Exchange or the electronic trading system.
Five concerns among a second batch of 22 state-owned enterprises have been allowed to seek a listing in the US, in which the stock market commands a higher liquidity.
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