中國存托憑證初探.pdf

1、復旦大學碩士學位論文中國存托憑證初探姓名：楊彥春申請學位級別：碩士專業(yè)：金融學指導教師：楊宇光2002.5.10中盤存托憑證枷搛ABSTRACTChinesecompanieslistedinstockexchangesinHongKongSAR，USandotheroverseassecuritiesmarketsarehi—techcompaniesandcompanieswithgoodperfbrmance，theirmajor

2、businessesareinChina，yetaccordingtopresentChinesepoliciesandlegalframework，theycannotbelistedinChinahomemarketOntheotherhand，thedepositsurplusforChineseresidentshasremainedhigh，butchannelsofinvestmentarelimitedPeople’Spr

3、eferenceforholdingcashisobviousespeciallywhenmedicalandeducationreformaregoingonsimultaneouslyDomesticsecuritiesmarkethasbeeninalongbearmarket，investorslackconfidenceinthemarketSecuritiesmarket，asthemostimportantmeansofi

4、nvestmentfordomesticresidents，lacksnewformsofproductstoattractcapitalintothemarketTherearefourchaptersinthisthesis，basedonthepresentstatusofChinesecompanieslistedoverseas，takingreferencefromtheAmericanDepositaryReceipts，

5、thisthesisanalyzesthenecessityforChineseDepositaryReceiptinbothmacroandmicroways，andmakessuggestionsinrelationtothepurposeofintroducingCDR，managementofforeigndeposit，lawandregulation，aswellaslevelsandsystemsofthemarket，f

6、inallyexecutionsuggestionsofcarryingouttheprojectaremadeThispaperconcludesthatatrialprogramofCDRfocusedOffChinesecompanieslistedoverseasmayeffectivelypromotetheirgrowth，companyandbrandname，attracttheresidentsdeposittoben