Markets

Conditions mature for int'l board: Official

(Xinhua)
Updated: 2011-05-18 13:06

BEIJING -- The conditions for China to create its own international board are nearly mature, the China Securities Journal cited a securities official as saying on Wednesday.

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The international board will be priced in yuan, according to Wang Jianjun, an official with the China Securities Regulatory Commission. Wang made the comments during a press conference held in Shanghai Tuesday, according to the China Securities Journal report.

Wang said in the report that no detailed timetable for the board has been made yet.

"We have made great progress in drafting rules and making technical preparations and supervisory arrangements for the board over the last year," Wang said in the report.

He expected the international board to fuel the country's capital market and help build Shanghai into an international financial center, the report said.

The world's top 500 firms will be the most likely candidates to apply for listings on the board at the Shanghai Stock Exchange, the Journal reported in April.