China may let multinationals list

Under the plan, Chinese may be able to invest in overseas firms

Shanghai's stock exchange says it is considering allowing big multinational companies to list shares.

China's largest exchange may permit companies such as HSBC, Coca-Cola and Siemens - which have large business operations in the country - to trade.

Que Bo, assistant general manager of Shanghai's exchange said it was doing market research on the plan and expected to "get some results soon".

He said the plan would make Shanghai's market more competitive.

Analysts said such a move would accelerate government efforts to ease restrictions on investment in and out of China.

HSBC has invested more than $5bn in China, buying stakes in Bank of Communications and Ping An Insurance.

Coca-Cola has invested $1.25bn in China since entering the country in 1979 and German engineering firm Siemens helped build the world's first commercial magnetic levitation - or maglev - rail service in Shanghai.

"To strengthen the blue-chip market, we have been planning to list such multinationals as HSBC, Coca-Cola and Siemens, which have developed very well in China," China's official Xinhua news agency quoted Que as saying.

Companies tend to list shares in their home markets although secondary listings in countries where firms have significant business interests are not uncommon.

A number of Chinese companies are listed in the United States.