The Shanghai Stock Exchange denied the possibility on Thursday of opening an international board in the newly built free-trade zone, saying there is no timetable for such a move.

The SSE made the statement after rumors spread that the bourse would set up a trading platform, called an international board, in the FTZ, on which foreign companies could issue shares.

Shanghai has for years lobbied the central government for permission to allow overseas companies to list on the SSE, as part of its ambition to become an international financial center.

Some foreign companies are interested in listing in Shanghai and issuing shares denominated in yuan, to raise money and help their expansion in the Chinese market.

China set up the free-trade zone in Shanghai in late September as an important step of the central government in its push toward reform. The pilot FTZ is expected to host trials and innovations in the financial and trading sectors.