BEIJING, June 22 (Xinhua) -- The following are the highlights of China's key business news from the past week:
SHANGHAI-LONDON STOCK CONNECT
The Shanghai-London Stock Connect program opened for trading Monday as brokerage Huatai Securities became the first Chinese company to list in Britain via the long-awaited mechanism.
Under the stock connect mechanism, Shanghai-listed companies can list on the London Stock Exchange via Global Depositary Receipts (GDRs) issuance, while British companies can issue China Depositary Receipts (CDRs) on the Shanghai Stock Exchange.
CHINA STATE RAILWAY GROUP INAUGURATED
State Council has approved the restructuring of China Railway Corporation and renamed it the China State Railway Group Co., Ltd. in an effort to make the company more market-oriented.
With a registered capital of nearly 1.74 trillion yuan (about 252 billion U.S. dollars), the company is run by the central government, and the Ministry of Finance performs the investor's duty on behalf of the State Council.
GUIDELINE FOR SCI-TECH INNOVATION BOARD
China's top court unveiled a guideline Friday to offer judicial guarantee to ensure the newly launched science and technology innovation board and the pilot registration-based IPO reform run smoothly.
This is the first time that the Supreme People's Court developed a systematic and comprehensive judicial document specific for the capital market's fundamental system reform.
The guideline includes 17 measures regarding fields such as raising legal costs for irregular practices.
