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China said to call on state firms to boost investment in crisis-hit Hong Kong

Key Points
  • At a meeting this week in Shenzhen, the city bordering Hong Kong, senior representatives from nearly 100 of China's largest state-run companies were urged to do their part to help cool China's biggest political crisis in years, according to three executives.
  • At the meeting, the firms pledged to invest more in key Hong Kong industries including real estate and tourism in a bid to create jobs for local citizens and stabilize financial markets, they said.
A protester throws a brick during clashes with police outside the Central Government Complex during an anti-government rally on August 31, 2019.
Chris McGrath | Getty Images News | Getty Images

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. 

At a meeting this week in Shenzhen, the city bordering Hong Kong, senior representatives from nearly 100 of China's largest state-run companies were urged to do their part to help cool China's biggest political crisis in years, three executives, including one who was present, told Reuters. 

At the meeting, the firms pledged to invest more in key Hong Kong industries including real estate and tourism in a bid to create jobs for local citizens and stabilize financial markets, two of the executives said, speaking on condition of anonymity to discuss internal deliberations.

No specific investments were discussed or agreed upon, they said.