China’s financial regulator has finalised rules for the issuance of a new type of security that will enable overseas-listed, fast-growing companies to list on the mainland.
The China Securities Regulatory Commission said in a notice that the rules, which take effect immediately, will allow companies to have a secondary listing in China by issuing China depositary receipts, a form of security that is similar to American depositary receipts.
The rules are aimed at attracting big technology companies such as Alibaba and Tencent to list on the domestic stock markets, in response to these companies floating overseas.
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