BEIJING: China is preparing to launch a pilot project allowing companies to issue preferred shares, setting no restrictions on which industries will be able to participate, as regulators move to diversify fund-raising channels for Chinese companies.
A spokesman for the China Securities Regulatory Commission (CSRC) told a regular news briefing that the regulator would support banks issuing preferred shares – a widely expected first step – but added that any “qualified” Chinese company from any industry would be able to apply.