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Listing hopefuls must wait for CSRC rules

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The China Securities Regulatory Commission (CSRC) will issue a comprehensive set of regulations to govern the listing of foreign multinationals in China.

The regulatory documents would supplement existing laws, said Wang Lin, deputy director-general of the CSRC's international co-operation department.

They would deal with aspects of wholly foreign-owned companies and foreign joint ventures that were not covered by present laws, he said.

Mr Wang said the rules would be issued when wholly owned multinationals sought listings on the mainland's stock markets. He gave no timetable.

Several foreign-invested enterprises are due to issue A shares in China as part of a trial scheme conducted by the CSRC with the Ministry of Foreign Trade and Co-operation (Moftec).

'We hope that these experimental units will fit the following conditions: first, they are internationally well-known multinationals; for example, those in the Fortune 500,' Mr Wang said.

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