Beijing will finally start allowing foreign companies to list in China, reflecting its ambitions to open up the financial sector and transform Shanghai into an international financial centre. Fang Xinghai, director-general of Shanghai’s Financial Services Office, told the FT that there might be “one or two” foreign companies listed in Shanghai by next year. The plans follow news that China will sell Rmb6bn ($878m) of bonds in Hong Kong this month to “improve the international status” of its currency.

This entry was posted by Gwen Robinson on Friday, September 11th, 2009 at 4:34 and is filed under Capital markets. Tagged with china. Edit this entry.