From Breakingviews - Swiss red carpet for China stocks rolls downhill
Chinese battery maker CATL CEO Robin Zeng attends a news conference in Berlin, Germany July 9, 2018. REUTERS/Hannibal Hanschke
HONG KONG, March 9 - European financial centres are rolling out the red carpet for Chinese companies. Easier rules have made Switzerland a popular destination for mainland firms selling shares abroad. With battery giant Contemporary Amperex Technology The SIX Swiss Exchange is an unlikely place for businesses in the People's Republic to tap overseas capital. Its free-float market capitalisation of $1.
Since a scheme to link Swiss and Chinese exchanges went live last year, 10 mainland firms have raised a combined $4.6 billion by selling GDRs in Zurich, according to Dealogic. At least 30 more have announced similar plans, IFR reported in February. Those include $48 billion solar panel specialist Longi Green Energy Technology
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