Chinese stock exchanges add Alibaba into Stock Connect Scheme

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/27/2026

1. NVDA
2. OKTA
3. CRM
4. CRWD
5. VEEV
6. P
7. KKR
8. HPQ
9. NTNX
10. SNPS

September 9, 2024 8:33 AM EDT

Shopping trolley is seen in front of Alibaba logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

BEIJING (Reuters) - China's Shanghai and Shenzhen stock exchanges will include Chinese e-commerce giant Alibaba Group and some other companies into its Stock Connect cross-border investment scheme from Tuesday, separate filings showed on Monday.

This move will integrate Alibaba into a program linking the Shenzhen and Shanghai stock exchanges with the Hong Kong stock exchange.

Alibaba's shareholders had previously approved the upgrade of its Hong Kong listing to primary status, effective Aug. 28, a move that is expected to attract huge investments from mainland China.

Alibaba said before that this transition to a dual primary listing does not involve issuing new shares or raising additional funds.

In April, China's securities regulator announced plans to facilitate Hong Kong listings for leading Chinese companies and expand the Stock Connect scheme to enhance Hong Kong's status as a "global financial centre".

(Reporting by Ella Cao, Samuel Shen and Ryan Woo, Editing by Louise Heavens and Tomasz Janowski)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters