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Six year ago, the New York Stock Ex- change (NYSE) and NASDAQ were the un- doubted destination for Chinese enterprises aiming to go abroad. But with a diversifiedmarket nowadays, Chinese companies have more choices. As the “Red Chips” such as Bank of China (BOC) and China Construction Bank (CCB) have started heading back, the eyes of investors are now shifted to Hong Kong and the Main- landA -Sharem arkets.F ollowingB OC'ss uccess- ful listing of A-share in the Mainland and H- share in Hong Kong, Industrial and Commer- cial Banko f China (ICBC), the country's largest lender in termso f assets,a nnounced on July 25th it would completei ts IPO within they ear. It will launch the H-share and A-share at thes ame time, dwarfing BOC's IPO of US$11.2 billion. Ana- lysts say that these two IPO will become two of the world's Top 5 IPOs this year. In the meantime, without the two behe- moths - BOC and ICBC, Wall Street starts to feel the pressure ofa multi-layered global stock pattern. The biggest beneficiary in the rise of Chi- nese enterprises' IPOs is the Stock Exchange of Hong Kong. Tokyo Stock Exchange and Lon- don Stock Exchange area lso trying their best to develop the market, while NYSE and NASDAQ are never willing to make way for others. They are all planningt o adjust the policy towards China and seek new resources.