什么叫CDR业务：中英文双语解读

中文段落：

CDR业务，全称为“中国存托凭证”，是一种金融衍生产品，允许境外公司在境内发行以人民币计价的股票。这一机制为那些希望在中国市场筹集资金但尚未在中国境内直接上市的外国公司提供了便利。CDR的发行有助于加强中国资本市场的国际化，吸引更多境外优质企业来华投资，并丰富国内投资者的投资选择。

CDR的运作原理相对简单。境外公司将其在外国的股票托管给当地的银行，然后由中国境内的存托银行发行以这些股票为支持的CDR。这些CDR可以在中国的证券交易所上市交易，与普通的股票交易无异。通过这样的方式，CDR业务实现了境外公司股票在中国市场的流通。

CDR业务对于中国市场来说，意味着更多的投资选择和更广泛的国际市场参与。同时，对于境外公司而言，CDR提供了一个进入中国市场的新渠道，有助于其扩大品牌影响力，增加融资渠道。然而，CDR业务也面临着一些挑战，如监管问题、市场接受度等，需要各方共同努力推动其健康发展。

英文段落：

CDR, short for "Chinese Depositary Receipt," is a financial derivative that allows foreign companies to issue RMB-denominated shares within China. This mechanism facilitates those foreign companies that wish to raise funds in the Chinese market but have not yet been directly listed within China. The issuance of CDRs helps to strengthen the internationalization of China's capital market, attract more high-quality foreign companies to invest in China, and enrich domestic investors' investment choices.

The operation principle of CDR is relatively straightforward. Foreign companies deposit their foreign shares with local banks, and then Chinese depositary banks issue CDRs backed by these shares. These CDRs can be listed and traded on Chinese stock exchanges, similar to regular stock transactions. Through this mechanism, the CDR business enables the circulation of foreign company shares in the Chinese market.

For the Chinese market, CDR business means more investment options and broader international market participation. Meanwhile, for foreign companies, CDR provides a new channel to enter the Chinese market, helping them expand brand influence and increase financing channels. However, the CDR business also faces some challenges, such as regulatory issues and market acceptance, requiring joint efforts from all parties to promote its healthy development.