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Beijing has ramped up efforts to attract foreign-funded mainland tech firms to list on domestic stock exchanges by giving the go-ahead to the ChiNext market in Shenzhen for Chinese depositary receipts (CDRs).
The move comes ahead of Chinese President Xi Jinping’s visit to Shenzhen on Wednesday to mark the 40th anniversary of the establishment of the special economic zone in the city.
In the guideline, Beijing said the launch of the CDR programme would be among the major financial reforms to reinforce the city’s development.
