Concerns persists over market

Concerns persists over market transparency

There are still concerns about how transparent China's markets are, how easily it seems some people can manipulate them, but this is clearly a step in the right direction."

Analysts say they expect an influx of local cash will boost liquidity in the slow market, which had been shunned by the foreigners it was originally designed for. They expect share prices to jump as much as 20 to 30 percent when trading resumes.

The reform of the China B share market is seen as a move to prepare the domestic stock markets for broader foreign access after China joins the World Trade Organization, probably this year.

Most China B-listed companies also have A shares, and many A and B companies have shares listed on the Hong Kong stock exchange, known as H shares.

Shares on the H market have an average price-to-earnings ratio of 11.5 times, while B shares have an average P-E ratio of 21.8 times and A shares a ratio of 60.5 times.