Chinese companies rush to dismantle ‘red-chip’ structures: Report
Groups including Tencent-backed AI startup StepFun and fast-food chain Home Original Chicken have rushed to dismantle their “red-chip” structures ahead of planned overseas listings following Beijing’s tighter scrutiny of foreign capital, the Financial Times reported on Wednesday.
Reuters could not immediately verify the report.
Red-chip firms are registered abroad, mainly in tax havens, but hold assets and businesses in China via equity ownership.
