Chinas securities official reiterates coming intl board to be yuan-denominated
The proposed international stock board will be denominated in yuan, reiterated an official with China's securities supervisor on Saturday during a forum in Shanghai.
Tong Daochi, head of the Department of International Affairs of the China Securities Regulatory Commission (CSRC), made the remarks at the Lujiazui Forum when responding to a question about whether the international board will conflict with the B shares in China.
The international board on the Shanghai Stock Exchange will allow foreign companies to list their shares in China.
This is the second time that CSRC officials released information about the international board at the forum.
The launch of China's international stock board will occur soon, said Shang Fulin, chairman of the CSRC, at the Lujiazui forum on Friday.
Prior to the statements by these two officials, Wang Jianjun, deputy-head of the General Office of the CSRC, revealed in Shanghai on Tuesday, May 17, that the time is fast approaching to launch the proposed international board.
B Shares are overseas-invested stocks issued domestically by domestic companies with face values denominated in yuan, but are subscribed and traded in foreign currencies.