When Hong Kong and China were reunified in 1997, the mantra was “one country, two systems”. Companies with listings in both jurisdictions are still feeling the consequences.
Great Wall Motor
is a good example. The Chinese carmaker is to sell up to 387m new China-listed A shares to raise $2.7bn. The proceeds will go towards research and development, and component production for “new energy” vehicles, such as hybrids and electric cars. It lags behind peers in that market. The
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