China prods state firms to boost investment in crisis-hit Hong Kong: Sources

HONG KONG - China has called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub, executives familiar with the matter said, as Beijing attempts to calm months of unrest in the city.

The SOEs in attendance included oil giant Sinopec and conglomerate China Merchants Group, one of the sources said. Instead of simply holding stakes in Hong Kong companies, the Chinese SOEs were also urged to look to control companies and have decision-making power in them, one of the people familiar with the meeting said.

Mr Hao, who was accompanied by a group of SOE executives, also met Mrs Carrie Lam, the city's Chief Executive. Widening mainland influence in Hong Kong has included the purchase of corporate assets and real estate.

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