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HKSE Wants To Make It Easier For Chinese Companies To Go Public
By Paul Denlinger
The Hong Kong Stock Exchange, in a move to attract Chinese companies to make public offerings in Hong Kong, is discussing doing away with the requirements that Chinese companies must have net assets of 400 million yuan and make offerings of at least US50 million dollars.
Chinese companies which are listed on the Hong Kong market are widely referred to as H shares. The current requirements have made it more difficult to attract Chinese companies to the Hong Kong market following the burst of the Internet bubble in 2000. Generally speaking, Chinese companies have preferred listing in New York, leaving the Hong Kong markets without major new companies in the past few years.
With the new CEPA (Closer Economic Partnership Agreement) between China and Hong Kong coming into effect this month, Hong Kong authorities have been lobbying with Chinese authorities to get preferential treatment. In particular, they have been pushing for a loosening of Chinese regulations first announced in 1999. These regulations which were published by the Chinese Securities Regulation Commission as "Regulations for Chinese Enterprises Seeking to Go Public Outside China" and were directed at Chinese state-owned enterprises. They required that the companies have net assets of at least 400 million yuan and make offerings of at least US50 million dollars.
The regulations are more strict than Hong Kong companies and for Chinese companies seeking to list on China's domestic A share market in Shanghai. When they were announced, they were largely directed at state-owned enterprises seeking to list outside China. The Hong Kong authorities are now arguing that the requirements are outdated because many of the Chinese companies seeking to list are private enterprises which have just come up and do not have the long history of Chinese state-owned enterprises. In addition, new private enterprises usually do not have the large assets which state-owned enterprises have.
Another group which has been pushing for a change in policy is city and provincial state-owned enterprises. Many of the smaller state-owned enterprises are having trouble finding capital, especially since the Chinese government started squeezing credit in October. Many of these companies, in fact, are not profitable and are what Chinese reform-minded economists want to phase out of the Chinese economy so that new healthier companies with private boards and management can replace them.
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China Business Express did not publish on Jan. 23 and 24 because of technical difficulties. Our apologies for the inconvenience.
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China Business Strategy , a strategic planning consultancy, has helped companies build more than US$3 billion of market capitalization in the China market since 1998.
BIG HEAD?????? Is that what you were looking at TFN????........I hadn't gottin that far......LOL
Holding on low volume.......could be a good sign.
MBR.....I'm not even going to ask you how you obtained pictures of SHOVEL in a G-String or One's sexual prefrences......LOL
Investorman......For fear of getting my message deleted......I will not answer that question......LOL
Investorman.....Did you see the chick with BBillyBBAss???? The buy must have either the largest wallet in the world or the largest.....? WOW
Not a bad looking crane operator....
Actually two legged animals do the same thing.....but I get your point.......LOL
MISTEREC......They might have seen you.....but was that really you???...Did you show them your Birth Certificate (unless you were hatched), high school diploma (unless you never graduated), your drivers license (unless you have a driver), your Pass Port (unless your an illegal Mexican), ETC, ETC, ETC???? Those are the questions......LOL
I had four Jacks.....that is why you lost......now when are you vacating MY house?????....LOL
DAMN MisterEC......You are a stickler for detail, how about a finger print also......LOL
In a thong.......need a good laugh.......Just kidding TFN.....LOL....You guys are really getting worked up and it's not going to do any good......The picture will appear when DC deems it ready to appear.....none of us will change that time frame.
NASTY THOUGHT.....BOATRGIRL......Just what we need big hairy a--es in thongs.......LOL
BoatRgirl......Do you really want to see a picture of Shovel in his G-String?........LOL......Some things are better left to the imagination.
I guess if the press could put Janet Reno's pictures up without breaking monitors your right why not CH's.....LOL
As for the diploma thing.......just a miss step to go along with the hundred or so others they've made through the years......the only difference between them.....some don't hurt as much as others.
Tin....that was my basic stance as well......though as an investor he does deserve certain things like E-mails answered Etc.....I think we can all agree Investor Relations needs some work.
Jonas,
Points well made......IMHO......I can only hope that the company (DC and others) are so busy finishing the 10-k, fixing the SEC issue and filing for another exchange that they can't take the time to do what you ask......to me it's not a big deal.....but you being an investor in the stock have a right to have your questions answered and problems fixed.....JMHO
.68 x .69 is actually a narrow range.
We are holding steady here, even though it's low volume could be the next step on the ladder.
Shovel....LOL
Commoname......I think we are both in agreement on the issue....Like I said before I just think it is frustration setting in from people who have been around a long time.....as far as sellers drying up......I'm not so sure about that I think there are people playing both sides of the fence, I am affraid.....they will sell into any run thinking that the stock will retrace like all other times.
LUCKY.....ROFLMAO
ORDER UP TWO COLD SHOWERS......LOL......I think everyone here is in agreement that these price movements SUCK....Everyone is here to make money on this stock......The problem lies in some of the LONG, LONG timers getting tired of seeing the same old rise and fall of stock price with no news.........So rant on my friend.
IMHO......the number one issue for HRCT going forward should be it's stock price....Period.....If they are going to continue to purchase other entities with HRCT stock..... some thought should be givin to propping the stock price up first, there by buying these firms with less stock and less dillution. I respect the fact that DC is working hard to build the company, however he should listen to his stockholders concerns about the stock price. HRCT has at last look at least $7 million in cash at hand........Do you guys realize what kind of effect a buy-back would have.....as small as it might be IMHO it would do wonders.
Having said all of this I do realize the fact we went from .06 to .66 in a short amount of time.........The fact remains we should have never been allowed to sink to either of those levels.
LOL......Fantastic
See you guys in the AM.
ROFLMAO........Got any extra????? I hear if you take three or four of them at a time, you will be knocking the trinkets off the tables as you walk by for like two days......LOL
Yeah BoatRgirl.....Party Time.....at least it's green I guess.....LOL.....We really need something to attract new INVESTORS and keep them here.....JMHO
No trades in 45 min.......How about some news......anything would be nice!
They make medicine for those type things, don't they?!.....LOL.....They also have surgeries that correct those....ahhh....lets just say genetics defects.......LOL
Should we feel sorry for ya?????.......LOL
Thanks.....Investorman......Read all your fan letters on RB........ROFLMAO
SWEETTTTTT......
Investorman...I knew that there were no tax consequences for capital gains for mutual funds, bonds, Etc.....I did not know you could shield ALL capital gains from stock sales.
Very nice to know DC......Uncle Sam keeps track of all gains and losses for you, until it's time to cash out??? Real question is this.......when you do cash out do the proceeds get taxed at your current rate (if you sell now) or at the rate at which you retire and begin withdrawing funds??? If they tax you at the rate at which time you are withdrawing these funds......This is a no-brainer way of going about trading IMHO.
You are able to trade stocks in your ROTH????
Same reason here.......I have enough problems trying to remember my wife and kids names much less a few hundred or thousand trades in a year.......LOL
In following that board, it's truly amazing how these guys move in and out of stocks.........I mean how would you like to be there accountant trying to track all those trades, ETC.
Miniscule, odd or cryptic......LOL
Damn good work Moody.
Posted by: thinkerman
In reply to: None Date:1/22/2004 11:57:06 AM
Post #of 36341
Bill Panetta: Have you had any conversation with Thorshammer? He post on HARTCOURT board sometimes. He very bright and informed about stocks. The only Time He post is when someone on the HRCT board ask Him to comment on certain subjects. I thought you just might be interested in talking to Him. Appreciate the volume build up on HRCT. :>) Thanks!
The ThinkerMan