Measures for the Administration of Strategic Investments in Listed Companies by Foreign Investors

外国投资者对上市公司战略投资管理办法

While it maintains the existing distinction between partial and full foreign-invested enterprise status, the Measures have new stipulations on investor qualifications, share transfer regulations, general offer requirements, corporate procedures and methods of acquisition payment.

(Promulgated by the Ministry of Commerce, the China Securities Regulatory Commission, the State Administration of Taxation, the State Administration for Industry and Commerce and the State Administration of Foreign Exchange on December 31 2005 and effective 30 days from the date of promulgation.)

(商务部、中国证券监督管理委员会、国家税务总局、国家工商行政管理总局、国家外汇管理局于二零零五年十二月三十一日发布，自发布起30日后施行。)

Order of the Ministry of Commerce, the China Securities Regulatory Commission, the State Administration of Taxation, the State Administration for Industry and Commerce and the State Administration of Foreign Exchange [2005] No.28

商务部、中国証券监督管理委员会、国家税务总局、国家工商行政管理总局、国家外汇管理局令 [2005] 第28号

Article 1: These Measures have been formulated in accordance with the requirements of theGuiding Opinions on the Reform Regarding the Separation of Equity Ownership and Trading Rights of Listed Companies and pursuant to state laws and regulations on foreign investment and the regulation of listed companies and the Tentative Provisions for the Acquisition of Domestic Enterprises by Foreign Investors in order to regulate strategic investments in A-share listed companies (Listed Companies) by foreign investors after the reform regarding the separation of equity ownership and trading rights (Reform), maintain order in the securities market, attract advanced management expertise, technology and funds from abroad, improve the governance structure of Listed Companies and protect the lawful rights and interests of Listed Companies and shareholders.

第一条为了规范股权分置改革后外国投资者对A股上市公司(以下简称上市公司)进行战略投资，维护証券市场秩序，引进境外先进管理经验、技朮和资金，改善上市公司治理结构，保护上市公司和股东的合法权益，按照《关于上市公司股权分置改革的指导意见》的要求，根据国家有关外商投资、上市公司监管的法律法规以及《外国投资者并购境内企业暂行规定》，制定本办法。

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