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Nerves jangle over two stock market prospects

  • Published 30 Apr 2009

Debate is flaring over whether the domestic stock market is robust enough to withstand two planned initiatives – a resumption of IPOs and the launch of a Growth Enterprise Board later this year – that will compete for market liquidity.

Speculation that the China Securities Regulatory Commission would resume initial public share offerings as early as May after a seven-month suspension hit share prices last week. Another issue that is weighing on sentiment is the prospect that a new Growth Enterprise Board for small and medium-sized companies may be launched – possibly in August or September this year. Liu Xinhua, CSRC vice-chairman, said this week that trading regulations for the GEB are to be released soon. But can the market withstand the drain on liquidity that such initiatives imply?

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