Baidu (BIDU) is weighing an upgrade of its Hong Kong listing to primary status from secondary to attract more mainland China investors and reduce exposure to potential US policy risks, Bloomberg News reported Wednesday, citing people familiar with the matter.

A primary listing would help the Chinese technology company qualify for cross-border trading, paving the way for investment flows from the mainland to Hong Kong, according to the report.

A Baidu spokesperson didn't immediately respond to MT Newswires' request for comment.

The company's shares were up 1.8% in recent premarket activity.

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