SHANGHAI - Investors betting on Alibaba Group Holding's inclusion in a programme allowing mainland Chinese investors to buy its shares in Hong Kong could be in for a disappointment.
With the bourses competing to draw the listings of local firms already floated in the US, allowing companies in Alibaba's position into the programme would run contrary to Beijing's ambitions of developing its mainland exchanges, particularly as unrest grips Hong Kong. Other Chinese firms - among the country's largest corporations, from JD.com to Baidu - may then be encouraged to also pick Hong Kong, bypassing the Shanghai or Shenzhen bourses.
Alibaba is not included in the current batch of companies to be included in the stock connect, said a separate person, adding that the list will be updated on Feb 17.
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