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Caixin

China moves to lure more red chip stocks to mainland markets

Program to let Chinese companies listed offshore do so on mainland expands

A sign for China's STAR Market: There are now three ways for red-chip companies to sell shares in China.   © Reuters

China's securities regulator broadened the path for more overseas-traded Chinese companies to sell shares on mainland markets as part of a government push to expand the country's capital markets and support innovative businesses.

The China Securities Regulatory Commission (CSRC) broadened a 2018 pilot program Friday allowing red chip companies to make domestic listings. Red chips are Chinese mainland-based enterprises incorporated internationally and traded in offshore markets, mostly in Hong Kong. The expanded trial will include more industries such as next-generation information technology, new materials, new-energy vehicles, green environmental technology, marine equipment and companies with national strategic importance.

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