China-Swiss stock link has flimsy foundations
A stock scheme linking China and Switzerland has attracted ire from an unexpected source: Beijing. The Chinese securities regulator is halting applications from mainland-listed firms seeking to sell global depositary receipts in Zurich, Bloomberg reported on Thursday. Concerns that Chinese investors are buying overseas to make a quick profit at home are valid. Yet in the absence of interest from international institutions, such cross-border stock links serve little purpose.