WILLEMSTAD – At least 68 Chinese companies initiated listing procedures on the Dutch Caribbean Securities Exchange (DCSX) between 2017 and 2021, making Curaçao an unusual destination for Chinese companies seeking an international stock-market listing, according to a new report.
The DCSX was established in 2009 and is the only authorized securities exchange in the Dutch Caribbean.
Although originally intended to attract Latin American businesses, it subsequently attracted significant interest from Chinese companies seeking relatively inexpensive international listings.
According to the report, most of those listings were not actively tradable and were primarily intended to increase the companies' international visibility.
At one point, the DCSX was described as the only stock exchange outside China where a majority of listed companies were Chinese.
Many of the companies were subsequently suspended because of non-compliance or failure to pay fees.
Chinese interest has since declined, although Chinese businesses still account for a notable portion of the limited number of tradable equities on the Curaçao exchange.
The report includes the DCSX example as part of its wider examination of Chinese economic presence in Curaçao.
Researchers nevertheless found that such commercial connections have not translated into evidence of substantial Chinese government influence over Curaçao's political decision-making.