BEIJING – The China Securities Regulatory Commission (CSRC) on Friday issued balloon rules on depositary cancellation business in the Shanghai-London b affix affairs afterwards gluttonous accessible animadversion for added than a month.
The rules mark an important footfall for the program, which aims to acquiesce stocks listed in Shanghai and London to be traded in anniversary other’s bazaar by arising archive receipts.
The CSRC revised some items in the antecedent version, including the belted accretion aeon for calm companies arising Global Depositary Receipts (GDRs) and the rights affair of across companies afterwards their China Depositary Receipts (CDRs) offering.
Effective aloft release, the rules abundant procedures and requirements for the CDRs and GDRs issuances, such as the approval system, connected adjustment and law enforcement.
China will accomplish alive affairs for ablution the Shanghai-London b affix affairs and steadily advance advanced the opening-up in China’s basic market, the CSRC said.
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