Legislation roundup: Securities, investment funds and press rules

July 13, 2012 | BY

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The CSRC has released a draft Circular on securities investments and the Standing Committee of the NPC a new draft of the PRC Securities Investment Fund Law. In addition, new rules may open up the investment of private capital in publishing

Securities Law

PRC Securities Investment Fund Law (Revision Draft)

The draft proposes a revision to put private equity under scrutiny. According to the draft, publicly or privately raised funds managed by a third party in the form of a company or partnership enterprise are governed with reference to the PRC Securities Investment Fund Law.

Further reading:

CSRC Circular

China Securities Regulatory Commission, Circular on Issues Relevant to the Implementation of the Measures for the Administration of Securities Investments in China by Qualified Foreign Institutional Investors (Draft for Comments)

The draft suggests the lowering of the qualification thresholds for QFIIs: requirements on the operating period for asset management institutions, insurance companies, pension funds and sovereign wealth funds is reduced from five years to two years and the securities assets managed by them are also lowered from US$5 billion to US$500 million.

Further reading:

Rules for press and publication

General Administration of Press and Publication, Implementing Rules on Supporting the Participation of Private Capital in Publishing Business Activities

Under the principle of separation of the editorial and business operations, private investment can now be made to the distribution and advertising businesses of party publishing companies with state-owned capital accounting for 51% or more.

Further reading:

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