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5 Things to Know About Chinese Depositary Receipts

Startups that Chinese investors want to get their hands on, including those valued above $1 billion — known as unicorns — did not make the list of the first companies eligible to issue Chinese depositary receipts. Photo: IC
Startups that Chinese investors want to get their hands on, including those valued above $1 billion — known as unicorns — did not make the list of the first companies eligible to issue Chinese depositary receipts. Photo: IC

What do tech giants Alibaba, Tencent, Baidu and China Telecom have to do with the recently concluded National People’s Congress in Beijing?

The answer is Chinese depositary receipts (CDRs) — a topic that topped the agenda of China’s largest political event held once in five years.

A number of Chinese tech chiefs, including Baidu’s Robin Li, were quizzed by the media if they would bring their New York- or Hong Kong-listed companies to make a secondary listing on mainland.

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