China to allow foreign-invested companies to list
09 Sep 2009
China will gradually increase equity limits for overseas companies in investments in the country and allow qualified foreign-invested enterprises to list in the country's stock market, Xinhua quoted Chen Deming, minister of commerce as saying.
China also plans to expand its outsourcing business, rivalling India as an outsourcing destination.
In fact, the Chinese authorities have announced new policy measures to help local businesses providing back-office services.
Under the policy banks in China have been asked to provide more credit to outsourcing service firms, especially in 20 cities designated by Beijing as "bases" for the industry.
China is also moving to expand cooperation between local and foreign companies for innovating investment avenues and optimising investment structures, the aency quoted Chen as saying at the 13th China International Fair for Investment and Trade (CIFIT) in Xiamen, southeastern Fujian Province.
The minister, however, did not say when the reforms will take effect, nor did he gaive any time frame for it.
