Hong Kong listing on the cards for China Vanke

China Vanke, the biggest developer by market value traded on the mainland's exchanges, may be planning to convert its foreign-currency denominated shares for a listing in Hong Kong, according to Credit Suisse.

Vanke suspended trading in both its B shares and yuan-denominated A shares from yesterday as the company said it was "planning important matters", according to a filing to the Shenzhen stock exchange yesterday, in which the firm did not elaborate.

Vanke would be joining China International Marine Containers Group, the first Chinese company to leave the B share market for the Hong Kong bourse where the daily

trading volume is more than 3,000 times larger, according to data compiled by Bloomberg.

The conversion gives the Shenzhen-based developer direct access to global investors as funding channels remain restricted in mainland China amid government curbs aimed at stemming speculation that has driven up home prices.

"This is a long-expected move," Jinsong Du, a property analyst at Credit Suisse, wrote in an e-mailed report yesterday, citing Vanke's earlier indications of the intention to list in Hong Kong.

"It seems this process has accelerated after CIMC successfully converted its B shares to H shares last week," referring to mainland Chinese companies traded in Hong Kong.

Tan Huajie, Vanke's Shenzhen-based board secretary, could not immediately be reached for a comment on the report.