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CSRC set to inherit listing job

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SHENZHEN'S securities regulatory body is to be stripped of its power to allocate and approve B shares for listing from next year.

The move follows Beijing's call to expand the B-share experiment beyond Shanghai and Shenzhen.

Analysts said the immediate impact of the long-awaited expansion would be a more powerful China Securities Regulatory Commission (CSRC).

A Shenzhen Securities and Exchange Commission official said the allocation and approval of B shares for listing on the Shenzhen stock exchange would be in the hands of the CSRC from next year.

The Shenzhen commission said it would complete the 1994 share quota.

Some of the B-share companies listed this year were part of last year's quota.

B shares are traded in foreign currencies by foreign investors, while A shares are traded in yuan by domestic investors.

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