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China to Launch CDR Soon to Enable Overseas-listed Chinese Firms to Return to A-Shares

Shanghai Securities News, 3/16/18

Early stage preparations for the launch of China depository receipts (CDR) are currently underway. The relevant authorities recently held a closed meeting to draft test points for China depository receipt business management. When CDR launches, mainland investors will be able to invest in foreign-listed Chinese corporate giants like Baidu (Nasdaq: BIDU), Alibaba Group (NYSE: BABA), Tencent (0700.HK), and (Nasdaq: JD) as easily as they buy RMB-denominated shares on domestic exchanges.

CDR will be released soon, according to China Banking Regulatory Commission (CBRC) vice chair Yan Qingmin in an interview yesterday. CDR is an effective measure to solve cross-border regulations and will benefit companies already listed overseas as well as those looking to return to China for a domestic listing. Having researched CDR exchange for a long time, a source at the Shenzhen Stock Exchange says that conditions this year are more mature and preparations are almost ready.

Keywords: listing China depository receipts Internet China Banking Regulatory Commission A-share


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