The China Securities Regulatory Commission (CSRC) on Friday issued trial rules on depositary receipt business in the Shanghai-London stock connect program after seeking public comment for more than a month.
The rules mark an important step for the program, which aims to allow stocks listed in Shanghai and London to be traded in each other's market by issuing depository receipts.
The CSRC revised some items in the previous version, including the restricted redemption period for domestic companies issuing Global Depositary Receipts (GDRs) and the rights issue of overseas companies after their China Depositary Receipts (CDRs) offering.
Effective upon release, the rules detailed procedures and requirements for the CDRs and GDRs issuances, such as the approval system, continued regulation and law enforcement.
China will make active preparations for launching the Shanghai-London stock connect program and steadily push forward the opening-up in China's capital market, the CSRC said.
Bonds to help shantytown bid
Beijing to add 1,628 more auto charging piles
China banking system outlook stable for next 12-18 months: Moody's
ADB raises Hong Kong's growth forecast from 3.2 pct to 3.7 pct in 2018
Adjustments to ensure economy stays on track
Fintech Abu Dhabi 2018 accelerates innovation of digital economy
Debt ratio in China’s real economy rises slightly in Q2
Chinese bank expresses confidence in Egypt's economy
