China launches preferred stock trial

BEIJING - China has decided to launch a trial for preferred stocks to meet actual demand.

A guideline about the trial was released Saturday by the State Council, said Deng Ge, a China Securities Regulatory Commission spokesman.

The preferred stock trial will lead to many positive results, such as boosting companies' direct financing activities, helping commercial banks innovate their capital products, meeting the diversified needs of investors and facilitating the mergers and acquisitions among enterprises, Deng said.

He added the commission will make relevant rules based on the cabinet guideline and solicit public opinion soon.

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