China has halted approvals for new GDR sales, worried re selling pressure on stockmarket

In China global depository receipts (GDRs) are certificates of A-share stocks traded in overseas markets, denominated in yuan.

• China’s securities regulator is pausing approvals for new applications to sell GDRs
• stems in part from concern that a substantial portion of GDR issuance is being taken up by Chinese investors who later convert the securities into shares in their home market to profit from persistent price gaps
• The GDRs, primarily listed in Zurich, have tended to trade at discounts. They become fungible with so-called A-shares in mainland China after 120 days.

Bloomberg carry the report, citing people familiar with the situation

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eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term