(Yicai Global) Feb. 27 -- There is still no timeline for when foreign companies will be able to list on the Chinese stock market, known as the 'international board,' mainly due to technical obstacles, said Fang Xinghai, vice chairman of the China Securities Regulatory Commission.
During a press briefing yesterday, Fang said the complications include accounting standards and information disclosure. Overseas firms have different regulatory rules which would need to be adjusted for China, which must consider the cost of overcoming technical issues to amend these rules.
Fang said it was not up to China's regulator to say whether or not A-shares would be included in MSCI Inc.'s [NYSE:MSCI] indexes this year, saying it was a decision to be made by the US-based firm.
Whether foreign A-shares are added or not, China's stock and capital markets will be reformed toward marketization, legalization and globalization, he added. The pace of the reform and market opening will not be affected by MSCI's decision, Fang said.