China to woo foreign-funded firms to list on Chinese bourses

China plans to woo foreign-funded firms to list on Chinese bourses in order to boost foreign investment, with emphasis placed on the manufacturing sector, said China's National Development and Reform Commission (NDRC), the country's top economic planner, in a circular on Tuesday.

Staff members work at the Starbucks Reserve Roastery in Shanghai, east China, June 3, 2022. (Xinhua/Liu Ying)

According to the circular issued by the NDRC and five other ministries, China will further strengthen financial support for foreign-funded enterprises. Eligible foreign-funded businesses will be supported to list their shares on the main board, the sci-tech innovation board, the ChiNext board, the Beijing Stock Exchange (BSE), and the base tier and innovation tier of China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," and to issue credit bonds for financing.

Financial institutions are encouraged to innovate on products and services in line with laws and regulations and with risks under control, and under market-oriented principle, to provide quality financial services and financing support for foreign-funded firms.

The NDRC called for sharing information of foreign-funded enterprises and projects between local governments and financial institutions, such as policy banks and commercial banks, and organizing business exchange events between banks and foreign-funded firms on a regular basis.

The circular, issued by the NDRC, Ministry of Commerce, Ministry of Industry and Information Technology, Ministry of Natural Resources, Ministry of Ecology and Environment and Ministry of Transport, includes a series of 15 measures to boost foreign investment, ensure fast-tracked implementation of signed projects and enhance the quality of investment so as to boost the high-quality development of the Chinese manufacturing sector and further deepen integration into the global economy.