China, HK stocks rise after Chinese securities regulator vows further reforms

SHANGHAI, Dec 22 (Reuters) - Chinese and Hong Kong

stocks rose on Thursday, after China's securities watchdog vowed

to deepen market reforms and improve the quality of listed

companies. ** China's benchmark CSI300 index rose 0.6% to

3,854.34 at the end of the morning session, while the Shanghai

Composite Index gained 0.2% to 3,075.81. ** In Hong Kong, the Hang Seng index added 2.8% to

19,688.67 points. ** The China Securities Regulatory Commission (CSRC)

said in a statement late on Wednesday that the economy will

recover as strong stimulus policies take effect, boding well for

China's capital markets. ** China is now grappling with a surge in infections after

Beijing dropped its strict zero-COVID policy, but the CSRC said

it's fully confident toward the "bright future" of China's

economy. ** The CSRC will push for an expansion of the mainland-Hong

Kong Stock Connect scheme, implement offshore listing reforms,

and deepen cooperation with Hong Kong's capital markets. ** Earlier in the week, Chinese and Hong Kong securities

regulators said that they have agreed in principle to further

expand the scope of eligible stocks under the mainland-Hong Kong

Stock Connect. ** The Hang Seng Tech Index jumped as much as

5.2%, as investors were encouraged by CSRC's vows to support

private firms and technology platform companies. ** Alibaba Group Holding, Bilibili Inc

and Xpeng Inc all rose sharply. ** The CSRC said it will fast-track greenlighting of the

first offshore listing by a "platform" company under China's new

approval system. ** Property shares also rose, after the CSRC

reiterated its support to the struggling sector.

(Reporting by Shanghai Newsroom; Editing by Rashmi Aich)