1.Product Overview
Global Depositary Receipts (GDRs) are transferable certificates issued and traded in a securities market of a specific country or region, representing the shares of foreign companies. A commercial bank in the issuing country is required to provide custody services for the underlying securities. The official launch of the Shanghai-London Stock Connect occurred in June 2019, with the successful listing of Huatai Securities on the London Stock Exchange, marking the first domestically issued GDR. In February 2022, the China Securities Regulatory Commission (CSRC) introduced new regulations on cross-border securities market connectivity, further expanding links between the Shanghai and Shenzhen stock markets and foreign markets. Germany and Switzerland were added to the connectivity mechanism, following the UK.

2.Target Clients
In accordance with existing GDR regulations, ICBC provides underlying securities custody services primarily for companies listed on the Shanghai and Shenzhen stock exchanges that plan to issue GDRs in Europe.

3.Services Provided
1.Provide custody services for the domestic underlying securities of GDR issuers.
2.Process GDR issuance and redemption efficiently, and monitor for transaction anomalies and issuance limits.
3.Submit regular GDR transaction reports to issuers.
4.Assist GDR issuers to communicate and comply with regulatory authorities.
5.Provide localized services, such as roadshows, through ICBC's domestic and overseas branches and subsidiaries.
6.Offer integrated onshore and offshore financial services of the highest quality.

4.Service Advantages
ICBC is the largest custodian bank in China, holding the top market share in asset custody. As the first custodian bank for GDR underlying securities in China, ICBC has established market operational standards, led innovations in cross-border custody, and has been invited to participate in discussions on regulatory and infrastructure system development. ICBC's global network, with 426 institutions in 49 countries and regions across six continents and major international financial centers, provides robust support for global operations and localized services for GDR issuers.

5.Contact Information
For assistance with related services, please contact the Global Asset Custody Division of the Asset Custody Department at the Industrial and Commercial Bank of China (ICBC):
Contact Person: Ting He
Tel: +86 10 8101 2488
E-mail: ting.he@icbc.com.cn