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Chinese stock exchanges add Alibaba into Stock Connect Scheme
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Chinese stock exchanges add Alibaba into Stock Connect Scheme
Sep 9, 2024 7:25 AM

BEIJING, Sept 9 (Reuters) - China's Shanghai and

Shenzhen stock exchanges will include Chinese e-commerce giant

Alibaba Group ( BABA ) and some other companies into its Stock

Connect cross-border investment scheme from Tuesday, separate

filings showed on Monday.

This move will integrate Alibaba ( BABA ) into a program linking the

Shenzhen and Shanghai stock exchanges with the Hong Kong stock

exchange.

Alibaba's ( BABA ) 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 ( BABA ) 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".

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