Opinion: Time for China to Roll Out Depository Receipts
Now that China’s annual political planning meetings are over, one of the items that is hopefully at the top of the legislators’ agenda is rolling out China depository receipts (CDRs). There have been reports that guidelines may be finalised in the second half of this year, but hopefully the timetable can be advanced to push ahead with this fairly simple-to-implement mechanism that will make it a lot easier for Chinese stocks listed abroad to be traded by investors inside China. CDRs, which will allow for dual listing, could be rolled out tomorrow because there are no major legal barriers to implementation: there is no need to change securities or corporate law, or stock exchange regulations.
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