China's regulatory muddle sends investors fleeing

Article Abstract:

China's regulatory maneuvering designed to stimulate the growth of the country's stock markets has backfired. Regulatory changes and arcane penalties are confusing foreign investors and undermining their confidence in the Chinese bourses. Foreign fund managers say they have grown very weary of the constantly changing regulatory environment and the constant intervention of the government in the markets. The fiasco provided a good opportunity for many investors to get rid of their Chinese shares.

Administration of General Economic Programs, Regulation of Dom Invest by Foreign, Foreign investments, Laws, regulations and rules, Stock-exchange, Stock exchanges, Foreign investment laws

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Halt to China bond futures shakes market confidence

Article Abstract:

China's decision to suspend government bond future trading has diminished confidence in its financial markets and could make deficit financing more expensive. The government explained that the market had to be closed as a response to the inability of regulators to enforce regulations. The move was the second major bond-futures imbroglio experienced by the country in 1995 and was a major setback for Chinese securities regulators who have been trying to develop reliable financial markets.

Management, Government securities

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Bond offerings are likely to get a warm welcome; State Development Bank's plan to launch up to $1 billion transaction whets investors' appetites

Article Abstract:

China's State Development Bank is expected to offer $500 million to $1 billion of 10-year bonds in the international bond market in Jan 1999. Other debt issues are expected to follow given the success of its recent sovereign $1 billion, 10-year bond. China's entry into the international bond market is attributed to its efforts to encourage confidence in its credit and establish a cost of capital should it decide to increase its borrowings.

China, Securities issued, listed, Public finance

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