According to Caixin, recently, many market insiders said that Alibaba and JD.com will become the first CDR pilot companies. Alibaba and JD.com have identified sponsors for domestic issuance of CDRs, of which Alibaba's sponsor is CITIC Securities. Some market insiders close to Alibaba pointed out that due to the large scale of Alibaba's CDR issuance, it is not ruled out that they will choose another joint sponsor. CICC said it is actively striving for it. The sponsors of JD CDR are Huaqing Securities and CITIC Construction Investment Securities, and Huatai jointly serve as financial advisors.
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