(Yicai Global) March 15 -- China's A-share market will soon introduce Chinese Depository Receipt, CDR, to attract technology companies that have been listed on, or delisted from, overseas markets to return to the A-share market, said a senior executive of China's securities regulator.

China Securities Regulatory Commission, CSRC, will select a group of new economy companies, unicorns, industrial internet and artificial intelligence firms to attract them to the A-share market, said Yan Qingmin, vice president of CSRC, in an interview with China Securities Journal today.

The financial regulator introduces CDR to solve the problems emanating from different regulations governing overseas and China's A-share markets and cross-border supervision issues, Yan said. The move is conducive for overseas-listed companies and companies delisted from those markets to return to the A-share market.

In response to the question of how to determine the list of unicorn companies, Yan Qingmin pointed out that this requires joint selection of several ministries and commissions including ministry of science and technology and ministry of industry and information technology. Relevant departments will provide technical parameters, he said. To be included in the list, the companies seeking to return to the A-share market should meet the requirements.

Pointing to the fact that China's A-share market has welcomed some new economy enterprises, many industrial internet and AI other companies will follow suit, said Yan.

China is adjusting initial public offering rules for the A-share market to attract technology companies representing new economy to list on its stock market. High-growth information technology companies such as Alibaba Group Holding Ltd., Baidu Inc. and Tencent Holdings Ltd. have chosen to list overseas due to failure to meet the original listing rules in China.