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China still a big draw for global investors

06-30-2012 16:57 BJT

BEIJING, June 30 (Xinhuanet) -- The China story is still very interesting to international investors even though a number of United States-listed Chinese companies have suffered selloff due to scandals such as accounting fraud over the past years, according to the operator of the New York Stock Exchange.

"Investors really like the China story they are just wary, they would like to be sure that the particular company they invest in doesn't have the challenges that we've seen in the last couple of years," Larry Leibowitz, chief operating officer of NYSE Euronext, said in an interview yesterday on the sidelines of the Lujiazui Forum in Shanghai. "I think they're just coming out of a period where they didn't feel very good."

A crisis of confidence has hit US-listed Chinese stocks, from Internet firms to mining companies, in recent years with investors pocketing gains by profiting from an earlier run-up in share prices.

"We saw the same thing happen in the US after the Internet bubble, and we have come through other periods where stocks have had problems that are not that similar, and it just takes investors a little while," Leibowitz said.

Chinese companies need to help investors understand the story and where growth and profits are coming from. "When that happens, investors are very happy to invest in these companies," he said.

Leibowitz also expects the US IPO market to regain momentum in the fall after a dull June, in the aftermath of Facebook Inc's disappointing debut last month and amid concerns over the worsening European debt crisis and slowing US growth.

 

Editor:Zhang Rui |Source: Xinhua

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