
China plans regulation to aid tech firms listing overseas, official says
BEIJING, May 22 (Reuters) - China will provide a more efficient, transparent and predictable regulatory environment to support technology firms listing overseas, Chief Risk Officer at the China Securities Regulatory Commission (CSRC) Yan Bojin said at a news briefing on Thursday.
The regulator will further strengthen the security of funds raised by listed companies to ensure their allocation towards the main business rather than other purposes, Yan said.
China has accelerated efforts towards technology self-sufficiency as Washington steps up curbs against Chinese tech advancement, at a time of rising geopolitical tensions between China and the U.S.
The regulator will make greater efforts to support high-quality, unprofitable technology firms going public, said Yan.
The CSRC will also deepen reforms on Shanghai's tech-focused STAR market and Shenzhen's ChiNext board, and will encourage high quality red-chip firms from the technology sector to list their shares domestically.
Firms with mainland Chinese ownership ties that are listed on the Hong Kong Stock Exchange are colloquially known as red chips.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Reuters
27 minutes ago
- Reuters
US, China set for trade talks in London on Monday
Three of U.S. President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has kept global markets on edge. Julian Satterthwaite reports.

Reuters
27 minutes ago
- Reuters
South Korea's new President Lee vows to revive democracy, economy
South Korea's new liberal president Lee Jae-myung pledged on Wednesday (June 4) to raise the country from what he described as the near destruction caused by a martial law attempt and revive a struggling economy facing global protectionism. Diane To reports.

Reuters
27 minutes ago
- Reuters
South Koreans vote for president after months of turmoil
Boosting the economy and ending political turmoil were key topics for voters in South Korea's capital, Seoul, on Tuesday (June 3) as the country held a snap presidential election to choose a new leader.