Since launching in October 2015, the Chinese and British governments have had dialogue for the Shanghai Stock Exchange and the London Stock Exchange to set up the Shanghai-London Stock Connect (SLSC), which has attracted plenty of attention from the capital market.
Counsel
Dentons
Pursuant to the Administrative Measures for the Issuance and Trading of Depositary Receipts (Trial Implementation), the China Securities Regulatory Commission promulgated and implemented on 12 October 2018 the Provisions on Supervision and Administration of Depositary Receipts under the SLSC (Trial Implementation). Subsequently, the SSE issued ancillary regulations for listing and trading, preliminary review for listing, cross-border conversion, and market making under SLSC.
The SLSC refers to the stock-interconnection arrangement under which eligible companies listed on the SSE or the LSE issue depositary receipts, and the same are listed and traded on each other’s market. The depositary receipts under SLSC can be converted into underlying stocks through the cross-border conversion mechanism between depositary receipts and underlying securities, to realize connectivity of the two markets.
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Willow Wei is a counsel and Hanqi Wang is a senior partner at Dentons
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