| Abstract | The China Securities Regulatory Commission announces to forbid local investors from buying B shares in late September 1996. B-shares are officially reserved for foreigners, and new buyers in China are now supposed to offer proof of foreign nationality. But in the absence of specific instructions about this, the brokerages seem to be carrying out business as usual. And even with these instructions, say some, it will be a daunting task to carry them through. Premier Li Peng stated a hope in early 1996 that Shenzhen would "dovetail with the Hong Kong track." This offers the zone some assurance that its stock exchange will be treated responsibly. Whether this means it will be allowed to continue on its own path, particularly with regard to B shares, still remains to be seen. |
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