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FILE PHOTO: A view of the city skyline and Huangpu River in Shanghai, China, February 24, 2022. REUTERS/Aly Song.
China published draft rules on Friday to allow overseas-listed Chinese companies to use share sale proceeds more flexibly, in a bid to promote offshore listings.
Funds raised from overseas listings that are remitted back to China in foreign currencies can be voluntarily converted into yuan and used at the company's discretion, China's central bank and forex regulator said.
Regulators will also streamline registration process for offshore share sales, according to the rules.
(Reporting by Beijing and Shanghai newsroom; Editing by Aidan Lewis)