The People’s Bank of China is considering allowing foreign companies to issue shares on the mainland as part of its drive to reform the convertibility of the yuan and open up China’s capital market.
Beijing will press ahead with reforms to allow individuals to invest in overseas capital markets directly, according to the central bank’s 2015 annual report released on Tuesday.
It came as state media reported details of Premier Li Keqiang’s meeting on Monday with senior officials overseeing the mainland’s financial system. Li called on regulators to stay vigilant towards risks in financial markets and abnormal cross-border capital flows.
Li told regulators to keep credit growth “reasonable” and to differentiate policies to help sectors and regions in difficulties. He reiterated the need to coordinate a prudent monetary policy with a proactive fiscal policy.
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