Shenzhen gets more autonomy for market reform, integration

SHANGHAI: China on Sunday detailed steps to grant more autonomy to Shenzhen, letting the southern financial and technology hub pilot reforms in market development and economic integration.

The changes announced by the National Development and Reform Commission include more flexibility to pursue reforms in areas such as land use and cross-border arbitration.

Shenzhen will launch stock index-futures products and will be allowed to issue offshore yuan-denominated local government bonds. Some companies will be allowed, via pilot projects, to issue shares or Chinese Depositary Receipts, which allow Chinese tech companies listed overseas to also list at home.