BEIJING, Nov. 15 (Xinhua) -- China's top securities watchdog Friday announced to fully promote its "full circulation" reform of the H-shares.
Qualified H-share companies and companies planning initial public offerings on the H-share market may apply for "full circulation" of certain types of shares in accordance with the law, the China Securities Regulatory Commission (CSRC) said in an online statement.
Full circulation indicates that the domestic unlisted shares of the relevant companies can be converted into H-shares for listing and circulation on the Hong Kong Exchanges and Clearing Limited (HKEX).
The shares include domestic-funded shares held by domestic shareholders prior to overseas listing, domestic-funded shares issued in the Chinese mainland after overseas listing and unlisted shares in circulation held by foreign shareholders, the CSRC said.
Regulated by Chinese law, H-shares are shares of enterprises incorporated in the Chinese mainland that are listed on the HKEX.
China completed its H-share full circulation trial last year, with stable operation reported in both mainland and Hong Kong markets, said CSRC spokesperson.
