Why PetroChina's recent IPO was such a political hot potato
As the date of its entry into the World Trade Organization approaches, China's presence on the world economic stage is becoming hard to ignore. In little more than a decade it has gone from having no securities markets to speak of to two burgeoning stock exchanges in Shanghai and Shenzhen - as well as the Hong Kong Stock Exchange - accounting for a total market capitalization of roughly $500 bn, or about half of China's overall economic output. However, from the regulators to the brokerage
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