XIAMEN FIT IMPORT & EXPORT CO., LTD.
B-shares rally on rumors of A and B-share merger
click rate:2647 issue time:2007-03-10 08:12
Jan. 12, 2007 (China Knowledge) – The B-shares on the Shanghai and Shenzhen stock exchanges closed sharply higher on market speculation that the RMB-denominated A-share market might merge with the US$-denominated B-share market.


The Shanghai B-Share Index surged 7.19% to close at 152.676 points while the Shenzhen B-Share Index rose 3.91% to an all-time high of 479.737 points.


Investors were excited by the likely merger after the National Business Daily reported that the China Securities Regulatory Commission (CSRC) has developed a draft to reform the B-share market.


This draft, which will be finalized at the CSRC work conference on Jan. 20, is expected to be implemented after the Chinese Lunar New Year, which falls on Feb. 18.