2015-11-05-上交所-全球存托凭证运行概况及在我国的实践_11页_598kb

Summary

This report analyzes global depository receipts (DRs), focusing on their operation and implementation in China. It begins with a discussion of DR basics, including definitions, types (such as ADR and GDR), and key mechanisms. The global market section provides data on funding raised, trading activity, and DR listings across various regions, highlighting trends like the growth in 2014. In China, the study examines the 1997 case of Zhejiang Southeast Power Generation issuing GDRs in London, noting its significance as a precedent. The conclusion recommends developing A-share linked DR options to facilitate cross-border financing.

• Main Drives: Operations of DRs, global trends, Chinese practice.
• Recommendations: Create regulations for A-DRs to ease funding access for Chinese companies.