The term P chip refers to Chinese companies listed on the Hong Kong Stock Exchange

Hong Kong Stock Exchange

The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...

 which are incorporated in the Cayman Islands

Cayman Islands

The Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...

, Bermuda

Bermuda

Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...

 and the British Virgin Islands

British Virgin Islands

The Virgin Islands, often called the British Virgin Islands , is a British overseas territory and overseas territory of the European Union, located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago, the remaining islands constituting the U.S...

 with operations in mainland China, and are run by private sector

Private sector

In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state...

 Chinese businessmen. During the Financial crisis of 2007–2010, P-Chips showed a dramatic increase in the rate of bankruptcy failures as compared to H Shares or Red Chips.

Since the main difference among private sector Chinese companies incorporated abroad is the exchange in which they are listed, the following terms are used to differentiate them:

• P chip if traded in Hong Kong.
• S chip
  S chip
  S chips , also known as S-Shares, is a term that refers to Chinese companies listed on the Singapore Exchange. S-Chips are incorporated in Singapore, the British Virgin Islands, the Cayman Islands and Bermuda and have their business operations in mainland China...
  
   if traded in Singapore.
• N share
  N share
  N-Shares refers to Chinese companies listed on the NYSE, NASDAQ, or the American Stock Exchange. 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 incorporated in Bermuda, the Cayman Islands,...
  
   if traded in the NYSE, NASDAQ
  NASDAQ
  The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
  
  , or the AMEX
  American Stock Exchange
  NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
  
  .
• L share
  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-Chips

S chip

S chips , also known as S-Shares, is a term that refers to Chinese companies listed on the Singapore Exchange. S-Chips are incorporated in Singapore, the British Virgin Islands, the Cayman Islands and Bermuda and have their business operations in mainland China...

 is the exchange on which they are traded.

However, a few market participants

Financial market participants

There are two basic financial market participant categories, Investor vs. Speculator and Institutional vs. Retail. Action in financial markets by central banks is usually regarded as intervention rather than participation.-Supply Side vs...

 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 chip

S chip

S chips , also known as S-Shares, is a term that refers to Chinese companies listed on the Singapore Exchange. S-Chips are incorporated in Singapore, the British Virgin Islands, the Cayman Islands and Bermuda and have their business operations in mainland China...

 or N share

N share

N-Shares refers to Chinese companies listed on the NYSE, NASDAQ, or the American Stock Exchange. 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 incorporated in Bermuda, the Cayman Islands,...

 as P-chips.

An index that covers prices of P-Chips is the MSCI P Chip Index.

Recent IPOs of P-Chips

As of August 2010

Bright Smart Securities & Commodities Group Ltd. [1428] (Cayman Islands) (25/08/2010)

West China Cement Ltd. [2233] (Jersey) (23/08/2010) (It is also an L share

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....

)

Infinity Chemical Holdings Co. Ltd. [640] (Cayman Islands) (12/08/2010)

Manta Holdings Co. Ltd. [936] (Cayman Islands) (19/07/2010)

China ITS (Holdings) Co., Ltd. [1900] (Cayman Islands) (15/07/2010)

Tian Shan Development (Holding) Ltd. [2118] (Cayman Islands) (15/07/2010)

Convoy Financial Services Holdings Ltd. [1019] (Cayman Islands) (13/07/2010)

Chiho-Tiande Group Ltd. [976] (Cayman Islands) (12/07/2010)

Sinoref Holdings Ltd. [1020] (Cayman Islands) (07/07/2010)

Chaowei Power Holdings Ltd. [951] (Cayman Islands) (07/07/2010)

Trauson Holdings Co. Ltd. [325] (Cayman Islands) (29/06/2010)

China Liansu Group Holdings Ltd. [2128] (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

Asia Aluminum

Asia Aluminum is the largest aluminum extrusion group in Asia, with an annual designed capacity of 350,000 metric tons. It employed, directly and indirectly, in excess of 10,000 people, predominantly in the Asia Aluminum Industrial City which housed its primary manufacturing facilities, located in...

  (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)

Warderly International Holdings Ltd. (Cayman Islands)

See also

• A share
  A share (mainland China)
  A shares are specialized shares of the [Renmembi]]currency that are purchased and traded on the Shanghai and Shenzhen stock exchanges.This is contrast to Renmembi B shares which are owned by foreigners who cannot purchase A-shares due to Chinese government restrictions.-See also:* A share * B...
  
  
• B share
  B share
  B share can refer to various terms relating to stock classes:* B shares, a class of stock on the Shanghai and Shenzhen stock exchanges* B shares, a class of stock on the New York Stock Exchange-See also:* B share* H share* Red chip* P chip* S chip...
  
  
• H share
  H share
  H shares In mainland China, the shares are referred to as H股 H shares, whilst in Hong Kong, they are called 恒生中國企業指數, literally Hang Seng China Enterprises Index. refers to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange...
  
  
• Blue chip
• Red chip
  Red chip
  Red chips stocks are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. The actual business is based in mainland China and controlled, either directly or indirectly, by the central, provincial or municipal governments of the Peoples' Republic of China...
  
  
• Green Chip
  Green chip
  Green chip stocks are along the lines of "green" or earth friendly industry. These include:* Solar Energy* Wind Energy* Geothermal* Plug-in Hybrid Electric Vehicles* Organic Foods* Water* Carbon Trading* Waste-to-Energy* Smart Grid...
  
  
• P chip
• S chip
  S chip
  S chips , also known as S-Shares, is a term that refers to Chinese companies listed on the Singapore Exchange. S-Chips are incorporated in Singapore, the British Virgin Islands, the Cayman Islands and Bermuda and have their business operations in mainland China...
  
  
• N share
  N share
  N-Shares refers to Chinese companies listed on the NYSE, NASDAQ, or the American Stock Exchange. 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 incorporated in Bermuda, the Cayman Islands,...
  
  
• L share
  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....
  
  
• G share
  G share
  G shares refers to shares traded in the stock exchanges of mainland China that belong to companies that have accomplished stock right division reforms, and have regained business on the market...
  
  
• China Concepts Stock
  China Concepts Stock
  China Concepts Stock is a set of stock of companies whose assets or earnings have significant activities in Mainland China. The People's Republic of China is undergoing major financial transformation, many leading mainland-based companies choose to list themselves overseas to gain access to...
  
  
• P Chips Frauds
• S-Chips Scandals
  S-Chips Scandals
  S-Chips Scandals relates to corporate scandals surrounding Chinese companies listed on the Singapore Exchange. Embezzlement, forgery, accounting fraud had been the order of the day. Frauds were perpetrated by Chinese citizens and facilitated by mostly Singaporean and Malaysian securities promoters...
  
  
• China Stock Frauds