A VICE-PRESIDENT of Vancouver Stock Exchange, Mr David Laundy, was being highly diplomatic during his visit to Hongkong yesterday following China's clampdown on foreign listing plans.
''It is a very sensitive matter,'' said Mr Laundy, vice-president of public affairs.
China Southern Glass' plan to seek a secondary listing in Vancouver has been put on hold and a big question-mark now hangs over the planned listings of Gintian Industry, China Bicycle and Shenzhen Vanke following China's get-tough approach to capital-raising abroad.
It was hoped the four would be the first of a string of China companies to list on the growing Canadian exchange, noted for floating less mature companies.
The Vancouver exchange, which aims to become the leading venture capital exchange in the world, has been keen to attract more companies from Asia.
So naturally the exchange was interested when it was approached by a financial services operation in Hongkong saying it had some mainland companies that could be interested in listing there.
But the creation of a powerful securities committee under the State Council has thrown a spanner in the works.