BEIJING is preparing for the second batch of mainland enterprises to float shares in Hong Kong, according to the chief of China's securities watchdog.
Liu Hongru, chairman of the China Securities Regulatory Commission (CSRC), was speaking in the territory after officiating at a ceremony marking the fifth state-owned enterprise, Maanshan Iron and Steel, to list on the Hong Kong exchange.
Mr Liu said yesterday: ''At present we will continue to concentrate on Hong Kong, but we will also carry out experiments in other markets on a small scale.
''We have no experience in the US at all.
''So only individual enterprises will take up the experiment.'' If there were large enterprises like Shanghai Petrochemicals and Maanshan Iron and Steel, global placement would continue to be adopted, he said.
Mr Liu said Beijing was choosing the candidates for listing from a large number of applicants wishing to raise funds in Hong Kong.
