Foreign investors benefit from SOEs listed abroad

cctv.com 03-24-2005 10:31

Foreign investors who bought stocks in China's overseas-listed state-owned enterprises made a profit in 2004. That's according to China's Economic Information Daily.

The newspaper said the 84 state-owned enterprises listed overseas raised more than 11 billion US dollars through issuing B-shares overseas. Exxon Mobil reportedly earned around 1.4 billion US dollars in profits from buying and selling shares of Sinopec and PetroChina. By the end of 2004, the value of the enterprises listed overseas was estimated at around 267 billion US dollars, while the circulated value of the stocks on the Shanghai Stock Exchange and Shenzhen Stock Exchange stood at some 145 billion US dollars.

Editor:Chen Zhuo  Source:CCTV.com