Air China said it has launched its sponsored American Depositary Receipt (ADR) program, with each ADR to represent 20 common shares traded on the Hong Kong stock exchange.

In a statement, the airline said JP Morgan will act as the depositary bank for the issue.

Air China is also listed in London, and its shareholders have also approved the issue of up to 2.7 bln A-shares on the Shanghai Stock Exchange, which is likely to happen by March 2007.