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.
