The term P chip () refers to Chinese companies listed on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repor ...

which are incorporated in the

Cayman Islands The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...

Bermuda ) , anthem = "God Save the King" , song_type = National song , song = " Hail to Bermuda" , image_map = , map_caption = , image_map2 = , mapsize2 = , map_caption2 = , subdivision_type = Sovereign state , subdivision_name = , e ...

and the

British Virgin Islands ) , anthem = "God Save the King" , song_type = Territorial song , song = "Oh, Beautiful Virgin Islands" , image_map = File:British Virgin Islands on the globe (Americas centered).svg , map_caption = , mapsize = 290px , image_map2 = Brit ...

with operations in mainland China, and are run by

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

Chinese businessmen. During the

financial crisis of 2007–2010 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

, P chips showed a dramatic increase in the rate of bankruptcy failures as compared to

H share H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

s or

red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a ...

s. Since the main difference among private sector Chinese companies incorporated abroad is the exchange in which they are

listed Listed may refer to: * Listed, Bornholm, a fishing village on the Danish island of Bornholm * Listed (MMM program), a television show on MuchMoreMusic * Endangered species in biology * Listed building, in architecture, designation of a historicall ...

, the following terms are used to differentiate them: * P chip if traded in Hong Kong (P stands for "private"). *

S chip S chips () are Chinese companies listed on the Singapore Exchange. Their shares are known as S shares. S chips are incorporated in Singapore, the British Virgin Islands, the Cayman Islands and Bermuda and have their business operations in mainland C ...

if traded in Singapore. *

N share N-Shares () refers to Chinese companies listed on the NYSE, NASDAQ, or the NYSE MKT. The term stands for New York. They may or may not be incorporated in China, but they have their main business operations in mainland China. Most of them are incorpo ...

if traded in the

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

, or the AMEX. *

L share L-Shares () refers to Chinese companies listed on the London Stock Exchange. The listed companies are incorporated in the Cayman Islands, Bermuda, British Virgin Islands and Jersey, but they have their main business operations in mainland China. ...

if traded in London. Therefore, the main difference between P chips and

s is the exchange on which they are traded. However, a few market participants may use the term "P chips" to refer to the entire universe of private sector Chinese companies incorporated abroad, regardless of the exchange in which they are traded. Therefore, these market participants may refer to

s or

s as P chips. An index that covers prices of P chips is the MSCI P Chip Index.http://www.mscibarra.com/products/indices/china/en/

Recent IPOs of P chips

''As of August 2010'' *Bright Smart Securities & Commodities Group Ltd. 428(Cayman Islands) (25/08/2010) *West China Cement Ltd. 233(Jersey) (23/08/2010) (It is also an

) *Infinity Chemical Holdings Co. Ltd. 40(Cayman Islands) (12/08/2010) *Manta Holdings Co. Ltd. 36(Cayman Islands) (19/07/2010) *China ITS (Holdings) Co., Ltd.

900 __NOTOC__ Year 900 ( CM) was a leap year starting on Tuesday (link will display the full calendar) of the Julian calendar. Events By place Abbasid Caliphate * Spring – Forces under the Transoxianian emir Isma'il ibn Ahmad are ...

(Cayman Islands) (15/07/2010) *Tian Shan Development (Holding) Ltd. 118(Cayman Islands) (15/07/2010) *Convoy Financial Services Holdings Ltd.

019 Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film Music ...

(Cayman Islands) (13/07/2010) *Chiho-Tiande Group Ltd. 76(Cayman Islands) (12/07/2010) *Sinoref Holdings Ltd. 020(Cayman Islands) (07/07/2010) *Chaowei Power Holdings Ltd. 51(Cayman Islands) (07/07/2010) *Trauson Holdings Co. Ltd. 25(Cayman Islands) (29/06/2010) *China Liansu Group Holdings Ltd. 128(Cayman Islands) (23/06/2010)

Partial list of suspended or delisted P chips

''This list includes name of company, stock symbol, and place of incorporation. The Hong Kong Exchange might have reassigned to other companies the stock symbols in this list.'' * Asia Aluminum () (Bermuda) *Bep International () (Bermuda) *Fu Ji Food and Catering () (Cayman Islands) *Peace Mark () (Bermuda) *Smart Union () (Cayman Islands) *Tack Fat () (Cayman Islands) *U-right International () (Bermuda) *A-S China Plumbing Products Ltd. () (Cayman Islands) *ABC Communications (Holdings) Ltd. () (Bermuda) *Automated Systems Holdings Ltd. () (Bermuda) *China Information Technology Development Ltd. () (Cayman Islands) *China Jin Hui Mining Corporation Ltd. () (Cayman Islands) *China Medical and Bio Science Ltd. () (Cayman Islands) *China Nickel Resources Holdings Co. Ltd. () (Cayman Islands) *China Packaging Group Co. Ltd. () (Cayman Islands) *China Post E-Commerce (Holdings) Ltd. () (Cayman Islands) *China Star Film Group Ltd. () (Bermuda) *China Trends Holdings Ltd. () (Cayman Islands) *CIL Holdings Ltd. () (Bermuda) *Climax International Co. Ltd. () (Bermuda) *EganaGoldpfeil (Holdings) Ltd. () (Cayman Islands) *Extrawell Pharmaceutical Holdings Ltd. () (Bermuda) *Grand Field Group Holdings Ltd. () (Bermuda) *Hong Kong Resources Holdings Co. Ltd. () (Bermuda) *Info Communication Holdings Ltd. () (Cayman Islands) *Jackin International Holdings Ltd. () (Bermuda) *Kith Holdings Ltd. () (Bermuda) *M Dream Inworld Ltd. () (Cayman Islands) *Mitsumaru East Kit (Holdings) Ltd. () (Cayman Islands) *Nam Fong International Holdings Ltd. () (Bermuda) *Nam Hing Holdings Ltd. () (Bermuda) *New City (China) Development Ltd. () (Cayman Islands) *Ngai Lik Industrial Holdings Ltd. () (Bermuda) *Ocean Grand Holdings Ltd. () (Bermuda) *Pan Asia Mining Ltd. () (Cayman Islands) *Pan Sino International Holding Ltd. () (Cayman Islands) *Peaktop International Holdings Ltd. () (Bermuda) *Prosten Technology Holdings Ltd. () (Cayman Islands) *QPL International Holdings Ltd. () (Bermuda) *Rojam Entertainment Holdings Ltd. () (Cayman Islands) *SMI Publishing Group Ltd. () (Cayman Islands) *Wai Chun Group Holdings Ltd. () (Bermuda) ;former suspended companies * Warderly International Holdings () (Cayman Islands)

References

{{reflist

Recent IPOs of P chips

Partial list of suspended or delisted P chips

References

See also