Bank of China to be included in China's A-share index
(Xinhua)
Updated: 2006-07-03 15:14 The Bank of China (BOC),
which will witness its share circulated in China's A-share stock market this
week, is to be included in major stock indexes in the country after two weeks,
the Xinhua-run Shanghai Securities News reported on Monday.
The BOC is one of China's four largest state-owned commercial banks, which
also include the China Construction Bank, the Industrial and Commercial Bank of
China and the China Agricultural Bank.
The government expects domestic banks, through public listings, to streamline
operations.
The BOC has been the second of the "big four" state banks to go public in the
Hong Kong stock market, following China Construction Bank that listed its shares
last October. The BOC is to be the first state bank listed on the Chinese
mainland's A-share (Renminbi-dominated) stock market this week.
According to a notice jointly issued by the Shanghai Stock Exchange and the
China Stock Index Company on Monday, those newly-listed companies that have huge
market value will be immediately included in major stock indexes after its first
ten trading days, the newspaper said.
The BOC, with its total market value exceeding 540 billion yuan (67.5 billion
U.S. dollars), will surely top all other A-shares in terms of market value, so
it will be qualified to be counted in major indexes including Shanghai Stock 180
Index, Shanghai Stock 50 Index, Hushen 300 Index and China Stock 100 Index after
the first 10 trading days, it said.
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