A blueprint to lure big Chinese technology groups to list on the mainland has been hailed by the head of Hong Kong’s stock market as a “landmark” move, as competition among listing venues accelerates.
Charles Li, head of Hong Kong Exchanges and Clearing, said at Credit Suisse’s Asian Investment Conference that proposals to allow offshore-listed Chinese technology companies to sell a special type of share, called Chinese depository receipts, on the mainland could be a “major event”.
The latest proposal comes as exchanges in Asia boost efforts to attract more “new economy” companies, such as biotech and technology groups, by making significant changes to their listing regimes, to compete with New York.