{"id":13626,"date":"2022-11-17T12:35:00","date_gmt":"2022-11-17T12:35:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3940297_AE40297_0"},"modified":"2022-11-17T12:35:00","modified_gmt":"2022-11-17T12:35:00","slug":"cicc-uk-becomes-the-first-shanghai-and-shenzhen-stock-exchanges-approved-german-gdr-cross-border-conversion-institution","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=13626","title":{"rendered":"CICC UK Becomes the First Shanghai and Shenzhen Stock Exchanges-Approved German GDR Cross-Border Conversion Institution"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/en.prnasia.com\/prnasia.com-PC\/images\/logo-en-blue-in.png\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Nov. 17, 2022<\/span> \/PRNewswire\/ &#8212;&nbsp;China International Capital Corporation Limited (CICC, 03908.HK, 601995.SH) announced that China International Capital Corporation (UK) Limited (CICC UK) has been approved by the Shanghai Stock Exchange (SSE) as a German Global Depositary Receipts (GDR) cross-border conversion institution under the stock connect schemes, in addition to SSE&#8217;s previous approval of CICC UK as a UK and Swiss GDR cross-border conversion institution. As a result, CICC UK has become the first and only GDR cross-border conversion institution approved by both the SSE and Shenzhen Stock Exchange (SZSE) for the German, UK and Swiss markets. This was on the back of CICC UK recently becoming a member of the SIX Swiss Exchange (SIX) and the Frankfurt Stock Exchange (FWB) in addition to its membership of the London Stock Exchange (LSE).<\/p>\n<p>In <span class=\"xn-chron\">February 2022<\/span>, the China Securities Regulatory Commission issued the &#8220;Provisions on the Supervision and Administration of Depository Receipts under the Stock Connect Scheme between Domestic and Overseas Stock Exchanges&#8221;, marking a significant expansion of the original stock connect scheme between the SSE and the LSE to include companies listed on the SZSE, as well as capital markets in <span class=\"xn-location\">Germany<\/span> and <span class=\"xn-location\">Switzerland<\/span>, and signalled <span class=\"xn-location\">China&#8217;s<\/span> determination to open up its capital markets further. The expanded stock connect schemes broaden the channels for international capital to enter the Chinese capital markets and vice versa.<\/p>\n<p>CICC UK was established in 2009 and is regulated by the UK Financial Conduct Authority. It provides a central platform from which CICC facilitates cross-border investment and financing services for an increasing number of clients from <span class=\"xn-location\">Europe<\/span>, the <span class=\"xn-location\">Middle East<\/span> and <span class=\"xn-location\">Africa<\/span> that do business with <span class=\"xn-location\">China<\/span> and from <span class=\"xn-location\">China<\/span> seeking cross-border investments in and financing from these regions. CICC UK is the first Chinese member of the LSE and SIX and the first Chinese investment bank member of the FWB.<\/p>\n<p><b><u>China International Capital Corporation Limited (CICC)<\/u><\/b><\/p>\n<p>China International Capital Corporation Limited (CICC, 601995.SH, 3908.HK), as the first joint-venture investment bank in <span class=\"xn-location\">China<\/span>, provides comprehensive one-stop investment banking services for domestic and overseas companies, institutions and individuals. Since its inception in 1995, CICC has adhered to the core values of &#8220;by the people and for the nation, professionalism and diligence, innovation and entrepreneurship, client first, and integrity&#8221;, and is committed to making itself a first-class international investment bank based in <span class=\"xn-location\">China<\/span> and a critical player in the future financial system. CICC is qualified for both domestic and overseas securities business operations, having set up a broad range of international business network. Headquartered in <span class=\"xn-location\">Beijing<\/span>, CICC has set up a number of branch companies and subsidiaries in the Chinese Mainland, owned more than 200 securities branches in 30 provinces, municipalities and autonomous regions in <span class=\"xn-location\">China<\/span>, and established offices in a series of international financial hubs including Hong Kong SAR, <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">London<\/span>, <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">San Francisco<\/span>, <span class=\"xn-location\">Frankfurt<\/span>, <span class=\"xn-location\">Tokyo<\/span> etc., which enables CICC to provide one-stop domestic, overseas, and cross-border financial services. CICC has a comprehensive and balanced business structure including investment banking, equities, FICC, asset management, private equity investment, wealth management and research.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Nov. 17, 2022 \/PRNewswire\/ &#8212;&nbsp;China International Capital Corporation Limited (CICC, 03908.HK, 601995.SH) announced that China International Capital Corporation (UK) Limited (CICC UK) has been approved by the Shanghai Stock Exchange (SSE) as a German Global Depositary Receipts (GDR) cross-border conversion institution under the stock connect schemes, in addition to SSE&#8217;s previous approval of CICC [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-13626","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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