China urged nearly 100 of its biggest state-owned companies to increase investment in Hong Kong and play a role in helping to ease political tensions in the former British colony, Reuters reported, citing executives familiar with the matter.
Representatives from the companies gathered in Shenzhen for a meeting organized by China's State-owned Assets Supervision and Administration Commission, which is an ad-hoc ministerial-level organization under the State Council.
At the meeting, the companies agreed to increase investment in key Hong Kong sectors such as real estate and tourism, though no specific details were finalized.
The semiautonomous territory has been gripped with monthslong unrest triggered by the now-withdrawn proposed bill to allow the extradition of individuals to mainland China. The protests prompted a downgrade from Fitch Ratings, which said the official withdrawal of the controversial bill is not expected to completely eliminate public discontent.
State-owned China Petroleum & Chemical Corp. and China Merchants Group Ltd. were among those present at the meeting, a source told Reuters.
