China to widen foreign access to A-shares

Shanghai: China’s securities regulator said it will allow individual foreign investors working in the country to buy and sell yuan-dominated Chinese A-shares, the latest incremental step by Beijing to widen access to its long-cloistered equities markets. The change would go into effect on September 15 and also applies to foreign employees of Chinese-listed companies who are working for those firms outside the country, the China Securities Regulatory Commission (CSRC) said in a statement. Previously, foreign access to Chinese stocks has been largely through B-shares, which are denominated in foreign currencies and geared towards international investors, while only qualified foreign institutional investors could buy into the larger pool of A-shares. —AFP