Chinese companies will only be allowed to list in Hong Kong if they intend to raise more than US$1 billion or carry out a dual listing in the mainland, the Financial Times reported. Investment bankers say the government has introduced the unofficial policy to ensure that the majority of listing candidates join the Shanghai and Shenzhen bourses. It is claimed that policymakers see a strong flow of new A-share listings as a means of mopping up excess liquidity and preventing a stock market bubble. There is also the issue that, by listing in Hong Kong only, stock in Chinese companies becomes much less accessible to Chinese people. For example, West Mining, which produces zinc, nickel and copper, had already hired bankers to prepare for an H-share listing when the regulator stepped in and directed it toward the A-share market. The company is expected to raise US$500 million later this year. It is hoped the change in policy will bring forward the point at which Shanghai surpasses Hong Kong as China's primary listing center.