Red chip companies see domestic listing this year

时间：2007-05-11 02:58:10

（单词翻译:单击）

May 10 - Red-chip companies, or mainland firms incorporated outside the mainland and listed in Hong Kong, are expected to list on the yuan-denominated A-share market by the end of this year, say Hong Kong-based analysts1.

 

If the A-share listing of these firms, at least 20 percent of whose stake is held by the State or State-owned entities2, materializes, it will help cool down the red-hot Shanghai market by providing more quality shares, they say.

 

"We believe mainland regulators will clear all legal hurdles3 soon," said Ronald Wan4, managing director and head of investment banking5 at Bank of Communications Securities. "The listing for the first (batch6 of) red chips will come by the end of the year."

 

Ricky Tam, chairman of Hong Kong Institution of Investors7, also said mainland regulators seem eager to attract more quality companies to the A-share market.

 

"The listing of red chips on the mainland will provide alternative investment channels for domestic punters," Tam said. "That will definitely help cool down the frenzy8 in Shanghai. The central government is eager to ease the excess liquidity9 in the market."

 

There are about 85 red chips listed on the main board of the Hong Kong bourse with a total market capitalization of about HK$3.1 billion.

 

Red chips have long been excluded from the domestic market because their flotation involves technical complications.

 

China Mobile and PetroChina have the best chance of being in the first batch of red chips listing on the mainland, given their huge capitalization and reputation.

 

"China Mobile and PetroChina are very likely to be in the first batch. Technically10 speaking, we don't see any hurdles delaying their listing, especially with the State Council giving its nod."

 

Market sources say five red chips have been given the green light to float in the A-share market. These are China Mobile, China Netcom Corp, CNOOC, Lenovo and an unidentified electronic components11 producer.

 

But Tam cautioned that red chips could divert some capital away from mainland shares. "Giants like China Mobile and PetroChina are most likely to join the stream, but we doubt whether Lenovo is large enough to be on the list," Tam said.

 

Red chips such as China Mobile have so far tried to tap the mainland market through China depository receipts (CDRs). But senior mainland officials now seem more inclined to A-share listing rather than CDRs.

 

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1 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
2 entities 07214c6750d983a32e0a33da225c4efd     
实体对像； 实体，独立存在体，实际存在物( entity的名词复数 )
参考例句：
  • Our newspaper and our printing business form separate corporate entities. 我们的报纸和印刷业形成相对独立的企业实体。
  • The North American continent is made up of three great structural entities. 北美大陆是由三个构造单元组成的。
3 hurdles ef026c612e29da4e5ffe480a8f65b720     
n.障碍( hurdle的名词复数 )；跳栏；（供人或马跳跃的）栏架；跨栏赛
参考例句：
  • In starting a new company, many hurdles must be crossed. 刚开办一个公司时，必须克服许多障碍。 来自《简明英汉词典》
  • There are several hurdles to be got over in this project. 在这项工程中有一些困难要克服。 来自辞典例句
4 wan np5yT     
(wide area network)广域网
参考例句：
  • The shared connection can be an Ethernet,wireless LAN,or wireless WAN connection.提供共享的网络连接可以是以太网、无线局域网或无线广域网。
5 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
6 batch HQgyz     
n.一批(组，群)；一批生产量
参考例句：
  • The first batch of cakes was burnt.第一炉蛋糕烤焦了。
  • I have a batch of letters to answer.我有一批信要回复。
7 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
8 frenzy jQbzs     
n.疯狂，狂热，极度的激动
参考例句：
  • He was able to work the young students up into a frenzy.他能激起青年学生的狂热。
  • They were singing in a frenzy of joy.他们欣喜若狂地高声歌唱。
9 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
10 technically wqYwV     
adv.专门地，技术上地
参考例句：
  • Technically it is the most advanced equipment ever.从技术上说，这是最先进的设备。
  • The tomato is technically a fruit,although it is eaten as a vegetable.严格地说，西红柿是一种水果，尽管它是当作蔬菜吃的。
11 components 4725dcf446a342f1473a8228e42dfa48     
（机器、设备等的）构成要素，零件，成分； 成分( component的名词复数 )； [物理化学]组分； [数学]分量； （混合物的）组成部分
参考例句：
  • the components of a machine 机器部件
  • Our chemistry teacher often reduces a compound to its components in lab. 在实验室中化学老师常把化合物分解为各种成分。

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