Chang depeng, spokesman of CSRC: as of March 3, 11 British securities companies have completed the filing of GDR (Global depository receipts) cross-border conversion institutions. Two overseas depositors and six Chinese banks have completed the filing of depositors. The medias statement that the Chinese government temporarily stops the Shanghai Luntong mechanism is not in line with the facts.
Changdepeng pointed out that since its opening in June 2019, the Shanghai Luntong has been operating normally. At present, the GDR transaction and cross-border conversion business of Huatai Securities are carried out normally. Shanghai Luntong refers to the mechanism of interconnection between Shanghai Stock Exchange and London Stock Exchange. Qualified dual listed companies may issue depository receipts (DR) and list in the opposite market for trading.