China mulls new stock exchange and seeks to pull in Tesla, overseas-listed firms - report

China is considering setting up a new Stock Exchange targeting overseas-listed companies, such as Tesla Inc (NASDAQ:TSLA) and Apple Inc (NASDAQ:AAPL). China’s State Council has asked the top securities regulator to lead studies on how to design the exchange that would target Chinese firms listed in offshore markets such as Hong Kong and the US, Reuters reported, citing two people with knowledge of the matter. The government hopes the initiative would also attract major global firms, such as Apple and Tesla, which would have the option of carving out local businesses and listing them on the new bourse, one of the people told Reuters. Talks are in early stages and the timing and location of the new exchange are yet to be decided, said the people, who declined to be identified.