Talks revive on foreign listings in Shanghai FTZ

Speculation over the opening of an international board in the China (Shanghai) Pilot Free Trade Zone, although denied by the Shanghai Stock Exchange, has taken on a new twist, with a published report saying that foreign companies might be able to sell shares in the zone.

A source with direct knowledge of the matter was quoted by The Wall Street Journal as saying that the authorities are working on a proposal to enable qualified foreign companies registered in the FTZ to sell shares via initial public offerings, ahead of listings on a designated trading platform in the zone.

The Shanghai Equity Exchange, in which the Shanghai Stock Exchange holds a 29-percent stake, plans to develop a platform to enable foreign companies registered in the FTZ to sell shares, according to The Wall Street Journal. But no time frame has been specified.