China publishes CDR rules allowing domestic listing of overseas firms

[SHANGHAI] China has published new rules on the issuing of China Depository Receipts (CDRs) that will allow the domestic flotation of overseas-listed innovators, according to a notice published late on Wednesday.

The trial rules, which are effective immediately, will provide the "institutional foundation" for innovative companies to issue CDRs on the domestic market, the China Securities Regulatory Commission said.

The CSRC said it would also strictly control the size and pace of CDR issuance.

REUTERS