Guangdong unveils blueprint to double number of listed companies by 2025 as China’s richest province eyes capital market to retain edge

The southern province, which has nine out of the 11 cities in the Greater Bay Area (GBA), plans to have 1,500 companies listed on both onshore and offshore markets, according to a blueprint released on the website of the provincial government on Tuesday. The blueprint also mapped out targets of outstanding loans and cross-border capital flows Guangdong will need in the next four years.

Currently, 737 companies from the province are listed on the Shanghai and Shenzhen exchanges, more than any other region in China, according to data provider Shanghai DZH. Some of the biggest companies domiciled in Guangdong include China Merchants Bank, Ping An Insurance Group and Warren Buffett-backed electric-vehicle maker BYD. As part of the drive, it aims to increase by a third the number of companies trading on the technology-heavy Star Market and ChiNext board.

By capitalising on China’s US$12.4 trillion stock market, Guangdong wants to retain its edge over the rest of the country. The province’s gross domestic product was 11 trillion yuan (US$1.7 trillion) in 2020, the biggest among all provinces, and accounted for almost 10 per cent of China’s total GDP. Guangdong’s GDP increased by 2.3 per cent last year, matching the nation’s growth rate.