More policies planned to boost growth

CHINA may soon reveal more policies intended to boost the economy after top leaders vowed to meet growth targets without compromising on the country’s stringent COVID-zero strategy.

Actions to promote investment, shore up exports and support technology platform companies are all on the table, domestic media outlets reported Thursday. The People’s Bank of China also said late Wednesday it would conduct “normalized financial supervision” over online platforms.

KE Holdings to list shares in HK

MAINLAND property platform KE Holdings Inc. said Thursday it would list shares in Hong Kong without raising capital, as a growing number of U.S.-listed Chinese mainland firms carry out “homecoming” listings.

The New York-listed company, which operates online property platform Beike matching buyers and sellers of real estate, will start trading its stock on the Hong Kong exchange May 11, it said in regulatory filings. Unlike a typical initial public offering (IPO) or secondary listing, KE Holdings will raise no capital and issue no new shares in what is termed a listing by introduction.

HSBC, Ping An plan to discuss breakup proposal

HSBC and Ping An executives plan to meet in mid-May to discuss the Shenzhen-based insurer’s proposal that the bank should explore strategic options such as spinning off its Asian business, a source familiar with the matter said Wednesday.

Ping An, the biggest shareholder in HSBC, called last week on the bank, which is headquartered in London, to look at ways to boost returns. HSBC, Europe’s biggest lender by total assets, has not commented on Ping An’s proposal but defended its structure last week, saying in a statement that it believed it had the right strategy and was focused on delivery.

Postal sector maintains stable operation

CHINA’S postal and courier industry maintained stable operation during the May Day holiday, the State Post Bureau said Thursday.

From April 30 to May 4, 1.34 billion parcels were collected by the country’s postal and express companies, up 2.3% year on year. Some 1.47 billion parcels were delivered during the period, surging 19.7% from a year ago. During the holiday, priority was given to guaranteeing the delivery of epidemic prevention supplies, emergency medicines and daily necessities, in a bid to ensure that people’s basic lives are not affected, the bureau said.