皇冠体育app

皇冠体育app is mulling steps for overseas firms to list in the country and foreign institutions to invest yuan they hold in domestic markets, Reuters reported, citing a government document.

The government will draft rules for overseas firms to float shares in 皇冠体育app and make necessary preparations for the opening, according to the documents signed by eight government departments, including the top planner, the National Development and Reform Commission.

皇冠体育app has been deliberating?on the launch of an international board in the Shanghai Stock Exchange to encourage foreign listings. It was about to kick off the new board in the second half of last year but the move was delayed by the erupting euro zone debt crisis.

This year, 皇冠体育app has conducted a slew of market reforms, including improving initial public offering rules to clamp down on excessive speculation in newcomers and a plan to launch a high-yield bond market for small companies to raise funds.

It has also doubled the yuan's trading band against the dollar and plans to launch a slew of derivatives, such as government bond futures, in a bid to offer corporations more hedging tools.

"Currently and in a coming period of time, the global economic structure will be faced with deep adjustments," said the document, also signed by the People's Bank of 皇冠体育app, the central bank, and the Ministry of Finance.

"We must stick to reforms and innovations."

The government would also consider letting foreign organizations issue bonds, mutual funds, while expanding the channels for domestic investors to invest in overseas securities, the document said.

皇冠体育app has so far permitted a handful of international organizations to sell bonds in the country, while Chinese citizens are allowed to trade foreign securities via the Qualified Domestic Institutional Investors (QDII) in a limited quota system.

International financial organizations, overseas currency authorities and foreign companies will be allowed to invest yuan they hold in 皇冠体育app's financial markets.

Chinese institutions will also be encouraged to do more financial and markets-related business outside 皇冠体育app, the document said without giving a timetable for the measures.

皇冠体育app has been trying to internationalize its currency over the past three years, conducting yuan-foreign currency swaps with a number of countries, and permitting Chinese firms to settle their trade with foreign counterparts in the yuan.

The government has launched a Renminbi Qualified Foreign Institutional Investor (RQFII), or RQFII scheme, to permit foreign firms to invest their yuan in 皇冠体育app in a quota system.

• Gamblers spreading their wings
• More Chinese to travel overseas to seek better medical treatment
• Country's cold remedy enters the UK market
• International Electric Vehicles Exhibition held in Beijing
• Internet medicine sales top $1 trillion
• Govt in joint effort to halt market slide
• Top 10 most expensive cities in the world
• Macao spins the wheel to drive tourism sector