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For the first time, China has included firms that are also listed on the B Share market into the share reform program.
This comes as regulators extend the plan to float over US$250 billion in state holdings to all 1,400 of the country's listed firms.
Property developer Vanke and bicycle maker Shanghai Forever were among the new batch of 21 firms to join the reform. Both have issued B shares, which are securities that foreigners can freely buy. China revived the state share sell-off scheme in April in an effort to enhance transparency and finance the country's pension system. It initially targeted only those firms with local currency A shares. In August, China said it would prevent owners of H shares, or shares in domestic firms listed in Hong Kong, and holders of B shares from having any say in how complex reform process was conducted.
(CCTV.com October 10, 2005)
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