What has led to this historic moment?
This China-Switzerland Stock Connect approach underpins the long and close relationship between China and Switzerland and the friendly collaboration between the Chinese and Swiss exchanges that has grown over the past few years. Initial MoUs were signed back in 2015 and were renewed in 2019.
From a regulatory perspective, the China Securities Regulatory Commission (CSRC) published revised Stock Connect Rules in February this year, followed by adaptations of the SIX Listing Rules that were approved by FINMA in July. In parallel, SIX Swiss Exchange introduced a new trading segment dedicated to GDRs.
What does this now mean for companies and investors?
China-Switzerland Stock Connect opens up new opportunities for all of them. China is the world’s second-largest economy and Switzerland’s third biggest trading partner. It has been continuously opening up the capital market, and the launch of the Stock Connect program is a very significant step forward, emphasizing that it’s open for business. Given our position at the heart of Europe, I think the Swiss market is uniquely placed to offer Chinese firms access to funding here. The first four listings have been a great start, and I’m looking forward to further listings in the future.