Carrie Lam supports proposals to facilitate business listings in HK
Published: Apr 08, 2021 09:33 PM
Aerial photo taken on July 16, 2020 shows the Wan Chai of south China's Hong Kong. (Xinhua/Lui Siu Wai)

Aerial photo taken on July 16, 2020 shows the Wan Chai of south China's Hong Kong. (Xinhua/Lui Siu Wai)

Hong Kong SAR's Chief Executive Carrie Lam on Thursday said she supports proposals to relax listing requirements on the Hong Kong Stock Exchange. 

With regard to proposals to relax listing requirements for companies that wish to float shares on the bourse, Lam said on Thursday that she supports, in principle, all measures that break down barriers, and, she believes that such efforts will be fitting for all government departments.

The HKEX is an independent listed firm, but it has the Special Administrative Region government's support for all measures taken to attract local and overseas companies to float their shares on the bourse, media reports said on Thursday, citing Lam.

The HKEX is seeking market views in a two-month consultation period on proposed reforms to enhance the listings of overseas issuers.

The proposed measures will give greater flexibility to overseas-listed companies seeking secondary listings or dual-primary listings. Against the backdrop of the hostile stance taken by the US government toward Chinese firms listed in the US, the new move is seen as helpful to companies seeking home-return listings.

Chinese search engine Baidu was among the latest Chinese firms making a "home-coming" share sale in Hong Kong.

The Biden administration has retained some hardline policies from the Trump period in cracking down on Chinese companies listed in the US. Chinese state-owned oil giant China National Offshore Oil Corp became the latest Chinese company to be pushed out of the New York Stock Exchange on Biden's watch.

Global Times