CHINA'S FIFTH SECURITIES MARKET TO OPEN
China's fifth securities market will
open on April 1 in the industrial port city of Tianjin, the
People's Daily overseas edition said.
    It said the market will in its first phase trade four
bonds, two issued by banks, one by a well-known city bicycle
factory and one issued by the city government to finance
construction of a road.
    Buyers and sellers can either agree on a price between them
and register the deal with the Industrial and Commercial Bank
that will run the new market or entrust the bank to make the
deal, it said.
    The paper said that only financial organisations and not
other firms or individuals could handle such trading.
    China's first securities market opened last year in the
northeast city of Shenyang and, since then, others have opened
in Shanghai, Peking and Harbin.
 REUTER
