Chinese companies' accelerated pace in issuing global depositary receipts in major European markets over the past few months will facilitate their outbound reach and the ongoing opening up of the Chinese capital market, industry insiders and experts said on Monday.Shanghai-listed Joincare Pharmaceutical Group Industry Co Ltd announced on Thursday that it has been granted conditional approval to issue GDRs on the SIX Swiss Exchange.A week prior to that, Shanghai-listed Eastroc Beverage was reported to have issued $500 million worth of GDRs on the Swiss exchange with the help of China International Capital Corp Ltd and Goldman Sachs.▲ An employee checks facilities at a Gotion High-tech plant in Hefei, Anhui province. Ruan Xuefeng/For China DailyAs of Monday, some nine A-share companies have announced GDR plans in Switzerland, including industry leaders such as Sany Heavy Industry and electric vehicle cell maker Gotion High-tech.Globally, GDRs refer to a certificate, issued by a deposi
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