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China to expand pilot scheme allowing domestic listing of 'red-chip' firms

HONG KONG : China will expand a pilot scheme to allow more Hong Kong-listed firms from sectors such as new energy and aerospace to list their shares domestically, to support the development of these strategic industries, its securities regulator said on Friday.

Firms with mainland Chinese ownership ties that are listed on the Hong Kong Stock Exchange are colloquially known as red chips.

The expanded pilot scheme would include red-chip firms from sectors of next-generation information technology, new materials, new energy vehicles, green environmental technology and marine equipment, as well as those with national strategic importance, the regulator said in the statement.

(Reporting by Meg Shen; Editing by Peter Graff)

Source: Reuters

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