The National Development and Reform Commission (NDRC) is drafting a raft of measures to encourage mainland firms to use Hong Kong as a springboard for offshore investment. Speaking at the Second China Overseas Investment Summit in Hong Kong, NDRC Vice Chairman Zhang Xiaoqiang said one measure would be to encourage more mainland firms to list in Hong Kong and issue yuan-denominated bonds in the city to finance overseas projects. Another would be to encourage mainland firms to set up operations in Hong Kong specifically for overseas investment. Zhang said the NDRC would support joint investment by mainland and Hong Kong firms in overseas infrastructure, mining, energy, high-tech, advanced manufacturing, and logistics projects via equity investment, mergers and acquisitions (M&As), and greenfield investment. Hong Kong Chief Executive Leung Chun-ying told summit delegates that 65% of mainland overseas direct investment went through Hong Kong, while the city’s investment on the mainland totaled USD37.3 billion in the first half, accounting for 63% of all investments in the mainland for the period.