Reuters reports, citing two people with knowledge of the matter

The report says that China's state council has asked the top securities regulator in the country to examine how to design a stock exchange that would target Chinese firms listed in offshore markets such as those in Hong Kong and the US.

The initiative is also said to be hoping to lure firms such as Apple and Tesla into the mix, and having the option of plucking local businesses and listing them on the new bourse.

The sources say that talks are only in the preliminary stages and no time frame is set on such a decision, though one option under discussion is upgrading an existing listing platform (a smaller one) to fit the mould that they are trying to achieve.