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China will make continued efforts to proceed institutional reform regarding Chinese companies’ overseas listings, Fang Xinghai, vice-chairman of China Securities Regulatory Commission (CSRC), said at an economic forum on Saturday.
The country will further optimize the mechanisms to facilitate investment by domestic and overseas investors and companies’ cross-border financing will be better supported, Fang said.
Connectivity programs such as the issuance of global depositary receipts and Chinese depositary receipts should be completed and companies are supported to seek overseas listings by adhering to related laws and regulations, he said.
Cooperation between the Chinese mainland and Hong Kong capital markets should be strengthened and the trading scope of the Stock Connect linking the two markets should be further expanded, he said.
China will continue to improve the Shanghai/Shenzhen-Hong Kong Stock Connect Scheme, optimize trading schedule by reducing non-tradable days, expanding eligible stocks to including companies with various voting structures, loss-making biotech companies, Chinese firms listed on the tech-focused Star Market and ETF into the scheme, he said.
Meanwhile, RMB trading for Hong Kong-listed equities should be launched and efforts should be made to roll out treasury bond futures in Hong Kong, Fang added.