| Abstract | For a long time, Chinese nationals with access to foreign currency, and in some cases Hong Kong ID cards, have been quietly buying B stocks. The authorities turned a blind eye to it. But now the Shenzhen exchange has thrown open the doors and is registering B-share accounts for callers at the rate of several thousand a day. This could hardly occur without a policy decision being taken by the Guangdong government, which is also reportedly introducing a whole raft of preferential tax and trade breaks for the biggest companies in the province - many of which are listed on the stock exchange. The net result is that Shenzhen shares have been going up at the rate of 10 per cent a day. |
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