Chinese Depositary Receipt (CDR) refers to the investment certificate that overseas (including China Mainland and Hongkong) listed companies deposit some issued and listed shares in local custodian banks, which are issued by domestic custodian banks, listed in domestic A-share market, settled in RMB, and traded by domestic investors, thus realizing the off-site trading of shares. It is a way for domestic investors to invest in Alibaba, Sina, Tencent and other companies through A-share accounts.