China’s pharma stocks plunge as new tender system slashes prices
The new procurement process is being tested in Shanghai first, before being rolled out to 10 other cities prior to a nationwide roll-out
The mechanism by which international investors can trade via the Hong Kong stock exchange to directly access stocks listed in mainland China. The scheme, launched in November 2014, adds more than 800 companies with market capitalisations equivalent to US$1 billion or more to the universe of stocks available to global investors. It marks a significant reform and liberalisation of China’s capital markets.
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