The guidelines for deepening pilot reforms in the southern Chinese metropolis of Shenzhen support eligible companies listed on the Stock Exchange of Hong Kong Limited (SEHK) in issuing and listing depositary receipts on the Shenzhen Stock Exchange (SZSE), an official with the National Development and Reform Commission (NDRC), China's top economic planner, said on Thursday.
China will further advance comprehensive reforms in Shenzhen and push for greater innovation and opening-up in the city, according to the guidelines issued on Tuesday by the general offices of the Communist Party of China Central Committee and the State Council.
Li Chunlin, deputy director of the NDRC, elaborated on the important financial measures outlined in the guidelines at a press briefing in Beijing.
"From the perspective of empowering the real economy through factors such as finance, technology, and data, China has introduced measures to deepen reforms in the financial market. These measures include supporting eligible companies listed on the SEHK to issue and list depositary receipts on the SZSE, while permitting qualified enterprises registered in the mainland and listed on the SEHK within the Guangdong-Hong Kong-Macao Greater Bay Area to list on the SZSE," Li said.
HK-listed firms encouraged to issue, list depositary receipts in Shenzhen: official
Chinese Premier Li Qiang on Thursday presided over a State Council executive meeting that studied work on building a unified national market and reviewed and approved a plan for the development of a modern emergency response system during the 15th Five-Year Plan period (2026-2030).
Noting that building a unified national market is essential to advancing high-quality development, the meeting called for deepening institutional frameworks in areas such as property rights protection, market access, fair competition, social credit and market exit mechanisms.
The meeting also urged efforts to advance high-standard connectivity of market infrastructure to facilitate smooth economic circulation and effectively reduce logistics costs across society.
Emergency management is critical to protecting people's lives and property, the meeting said. It called for accelerating the development of a modern emergency response system, deepening reform and innovation in emergency management, and improving coordinated response mechanisms.
Efforts should be made to strengthen risk prevention at the source, enhance monitoring, forecasting and early warning, and accelerate a shift in governance toward proactive prevention, according to the meeting.
A draft revision of the Law on the People's Bank of China was also discussed and approved in principle at the meeting, which decided to submit the draft to the Standing Committee of the National People's Congress for deliberation.
Chinese premier chairs State Council executive meeting
