Chinese companies are canceling plans for Swiss listings

Low turnover, new regulations undercut Zurich's appeal for mainland companies

Since the China-Switzerland Stock Connect program was launched a year ago, a number of Chinese companies have recently pulled plans to list on the SIX. (Source photo by AP and Reuters)

KENJI KAWASE and ECHO WONG, Nikkei staff writers

July 28, 2023 18:41 JST

HONG KONG -- A year ago, the Swiss Exchange (SIX) held a grand ceremony to introduce a new asset class: mainland Chinese shares.

Under the China-Switzerland Stock Connect program, four Chinese companies -- Keda Industrial Group, GEM, Gotion High-tech and Ningbo Shanshan -- debuted in Zurich. The program allows companies in one country to seek secondary listings in the other by issuing global depositary receipts (GDRs).