金融专业英语考试相关阅读指导(十七)

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　　Listed firms may be allowed to sell shares
　　The country's regulators will consider allowing listed firms to sell shares as a first step toward lifting its suspension on new IPOs in domestic markets, but no timetable has been set, domestic media reported Monday.　China is proceeding with a series of market reforms aimed at reviving its shares markets, which remain mired in a four-year slump.
3 l1 G* I' {1 ?3 Q: Q　　In mid-2005, China suspended new IPOs in domestic markets in an effort to prop up sagging stock prices, weighed down by investor concerns over the share-reform plan to sell more than US$250 billion in State-held shares.
　　"We will look at allowing listed companies to sell shares before approving any new IPOs," the Financial News quoted Shang Fulin, the top securities regulator, as saying at a conference.
8 A3 z# R* U: ]' {$ N0 z" M　　Reforms in state-held shares need to be built upon solid capital markets, said Shang, adding that the last mile of reforms would be the most difficult.
# ?4 b: _1 P! {+ c/ h6 _1 u2 C　　Last month, China scrapped capital gains taxes for foreign stock investors.
0 ]5 L8 k- R3 z8 @3 W　　The government is intensifying efforts to lure foreign cash into its main stock market, via a Qualified Foreign Institutional Investor (QFII) scheme that lets overseas firms invest in primary stock and debt markets.
% }' L1 E$ J; M  m0 L. v( y　　The index was Asia's worst performing major market benchmark stock index in both 2005 and 2004.
　　While trying to reform inefficient capital markets to give domestic firms another fund-raising option besides banks, China is also trying to enhance corporate transparency and boost profitability.
　　Shang's comments come after a leading economic official said Saturday that efforts to revive its sickly stock markets are likely to work only if "poor quality" listed companies are eliminated from trading.
8 D! W; \4 u* H+ a3 x　　"Raising the quality of China's listed companies is the only permanent cure that can ensure public investors' fundamental interests," said Cheng Siwei, a vice chairman of the Standing Committee of the National People's Congress.