Chinese companies rush to dismantle 'red-chip' structures: Report

Groups ​including ​Tencent-backed AI startup ​StepFun and fast-food chain Home Original ‌Chicken ⁠have rushed ⁠to ​dismantle their "red-chip" structures ahead ​of planned overseas listings following ​Beijing's tighter ⁠scrutiny of foreign ‌capital, ​the ​Financial ⁠Times reported on Wednesday.

Reuters ​could not immediately ​verify the report.

Red-chip firms are registered ‌abroad, mainly in tax havens, but hold ⁠assets and businesses in China via equity ownership.