18 July 2023
On 18 July 2023, the Shenzhen Stock Exchange issued the “Interim Measures for Listing and Trading of Depository Receipts under the Stock Connect Scheme between the Shenzhen Stock Exchange and Overseas Stock Exchanges (Revised in 2023)” (“the Measures”). The Measures specified that as the requirement of the initial listing of Chinese depository receipts on the Shenzhen Stock Exchange, an overseas issuer shall meet the conditions of having listed on an overseas stock exchange for at least 3 years and other listing conditions as agreed by the China Securities Regulatory Commission (“CSRC”) and an overseas securities regulator according to the market stratification of the overseas listing stocks. In addition, the number of proposed listing Chinese depository receipts by an offshore issuer shall be at least 50 million, with the market value of no less than RMB500 million. The Measures will be implemented from 18 July 2023.