China Unveils Pilot Program to Woo Big Tech Names to Trade Back Home
China is launching a pilot program to entice foreign-listed Chinese tech giants to also trade at home through a new option of share issuance.
The State Council on Friday unveiled the trial program of Chinese depositary receipts (CDRs) for qualified innovative companies to list their shares at the domestic A-share markets.
Companies eligible for the pilot program include those in high-tech or strategic emerging industries, such as the internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing and biotechnology, according to a document issued by the China Securities Regulatory Commission (CSRC) posted on the State Council’s website late Friday.
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