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China to allow domestic listings of foreign firms next year

(chinadaily.com.cn)
Updated: 2009-08-06 16:25

China will allow foreign firms to list on the Shanghai Stock Exchange next year, as part of the city's efforts to become a regional financial hub, the Shanghai Daily quoted the city's deputy mayor, Tu Guangshao, as saying.

It is the first time a Chinese official has clarified the timeline for foreign firms' domestic listing, which will allow them to sell yuan-denominated shares.