【Financial Str. Release】BSE, HKEX sign MOU to encourage dual listing of their listed companies

This photo taken on Feb. 17, 2023 shows a view of the Beijing Stock Exchange in Beijing, capital of China. (Xinhua/Wang Quanchao)

BEIJING, June 30 (Xinhua) -- Beijing Stock Exchange (BSE) and Hong Kong Exchanges and Clearing Limited (HKEX) inked a memorandum of understanding (MOU) to support dual listing of stocks of each other's qualified listed companies in Beijing on Thursday, reported Xinhua Finance.

Companies listed on BSE and meeting requirements for listing on HKEX can submit, pursuant to provisions of the interim management rules for domestic firms' overseas securities issuance and listing, listing application documents to HKEX and then report to China Securities Regulatory Commission (CSRC) for record filing.

For Hong Kong-listed companies that meet related requirements of CSRC and are qualified for listing on BSE, they can apply for public offering and listing of stocks on BSE in accordance with the existing rules and regulations.

BSE and HKEX will also cooperate in study of research programs, marketing, personnel training and communication, and investor services.

Sui Qiang, general manager with BSE said that the dual listing boosting arrangement under guidance of CSRC is an important measure to advance the institutional opening up of China's capital market, deepen reform of BSE and well respond to market demand.

The move will further expand the coverage of the "A+H" dual listing mode and help more enterprises gear up for faster development by taking advantage of the Beijing and Hong Kong stock markets, noted Sui.

Nicolas Aguzin, chief executive officer of HKEX said signing the MOU laid a solid foundation for their long term and profound cooperation in financial sector and expected to co-work with BSE to actively propel the joint prosperity of the capital markets in Beijing and Hong Kong.      

In the past more than one year, BSE has attracted over 200 companies to list on the bourse.

In future, BSE will continue to deepen reform, strengthen service capacity, improve market ecology, and promote internationalization of higher level to better serve innovation of SMEs in China and share dividends brought by China's high-quality economic development with more investors at home and abroad. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)