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China's firms raise $113.8b by overseas listing

(Xinhua)
Updated: 2009-10-05 15:05

By the end of last July, China's domestic enterprises had raised $113.8 billion through listing their shares on overseas bourses, China's top securities regulator said Monday.

Statistics from the China Securities Regulatory Commission (CSRC) showed 154 Chinese enterprises had started initial public offering overseas by the end of last July.

Tsingtao Brewery Corporation started listing H-shares on the Hong Kong bourse in June 1993, becoming China's first firm to list outside the mainland.

Related readings: China Re-eyes IPO in bid for global market Chinese firms rush to jump on IPO bandwagon China to allow foreign-invested companies to list China's Tsingtao Brewery net profit up 68% in H1

Meanwhile, China opened up its capital market to foreign investors by launching qualified foreign institutional investors.

By the end of July, China had approved nine Sino-foreign securities ventures, 33 joint venture fund management companies, 113 foreign securities institutions and 38 foreign assets management companies, according to CSRC.

China is also considering allowing high-quality overseas firms to list in China in an effort to stabilize foreign direct investment, Vice Minister of Commerce Chen Jian said in July.