China to allow domestic listing of foreign firms

China will permit foreign firms to be listed on domestic stock exchanges to expand their financing channels, an official said Friday.

The firms will be able to go public on the main board, the SME board, the ChiNext board and debut on the National Equities Exchange and Quotation system, Ning Jizhe, vice director of the National Development and Reform Commission, told reporters.

They will also be allowed to issue corporate bonds and convertible bonds and use financing instruments of non-financial enterprises in China, he said.

The policy is part of China's efforts to level the playing field for foreign firms, he added, referring to a new guideline on further attracting foreign investment and promoting opening up.

The guideline was approved by a State Council's executive meeting chaired by Premier Li Keqiang on Wednesday.

It emphasizes equal treatment of foreign investors, prohibits additional restriction and canceled minimum registered capital requirements for foreign-funded firms. Endi