China is calling on Hong Kong-listed mainland firms, with a combined worth of HK$16 trillion, to issue shares in Shenzhen as part of sweeping reforms to boost the city's capital markets, The Standard reported Thursday.
At a Thursday briefing, National Development and Reform Commission Vice Chair Li Chunlin said 220 eligible companies, including Tencent (HKG:0700) and XPeng (HKG:9868), may issue depositary receipts on the Shenzhen bourse, according to the report.
The move aims to deepen integration in the Greater Bay Area and broaden access for mainland investors, The Standard wrote.
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