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The secretive Diego Garcia military base may be 1,000 miles from the nearest continent, but it has all the trappings of a modern American town.
The troops here can dine on burgers at Jake’s Place, enjoy a nine-hole golf course, go bow
ling or sink a cold beer at one of several bars. The local command has nicknamed the base the “Footprint of Freedom.”
But while cars here drive on the right side of the road, this is not
American soil: It is, in fact, a remote remnant of the British Empire.
That is because in 1965, in the middle of the Cold War, the Unite
d States signed a controversial, secret agreement with the British government to lease one of the
60 or so Indian Ocean atolls that make up the Chagos Islands to construct a military base.
That deal was secret because the UK was in the process of dec
olonizing Mauritius, of which the Chagos archipelago was a dependency.
are available,” Huang said. How soon the first company will go public on the new board depe
nds on different factors, including the preparatory progress of the companies and their investment banks, he added.
Enterprises qualified and willing to go public on the n
ew board are mainly concentrated in such areas as information technology, biomedicine, high
-end manufacturing and new materials, Huang said, adding that the bourse has done lots of research on them.
“They feature relatively high research and development expenditures, and rather good growth prospects.”
Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Scien
ce and Technology, expects that both the detailed rules and the list of the first companies involved are likely to come out in March.
“China is pushing the new board forward at full speed, which can foster innovatio
n-oriented growth through inclusive listing rules and offset this year’s economic headwinds,” Dong said.
Yi said the new board aims to better serve innovation-orie
nted enterprises and will serve as a prelude to capital market reforms of a broader scope.
The commission will carefully evaluate the effect of various reform and innovation m
easures on the new board. Based on that, fine-tuning measures for ChiNext and the National Equities Exc
hange and Quotations system can be advanced in a coordinated way, Yi stressed.