Aug 23 2012
China & Hongkong – Offshore
Beijing plans for HK-Mainland Offshore Drive: Beijing’s top planning agency is drafting a raft of measures to encourage mainland firms to use Hong Kong as a springboard for offshore investment. Measures would include encouraging more mainland firms to list in Hong Kong and issue yuan-denominated bonds in the city to finance overseas projects, and to encourage mainland firms to set up operations in Hong Kong specifically for overseas investment. The National Development and Reform Commission (NDRC) will support joint investment by mainland and Hong Kong firms in overseas infrastructure, mining, energy, high-tech, advanced manufacturing, and logistics projects via equity investment, M&A, and greenfield investment (SCMP).