Legislation roundup: FX controls and listed company guidelines

Foreign exchange

State Administration of Foreign Exchange, Circular on Further Improving and Revising the Policy for Control of Foreign Exchange on the Capital Account
国家外汇管理局关于进一步改进和调整资本项目外汇管理政策的通知

The Circular simplifies and further liberalises exchange control on the capital account for matters such as foreign claims of lease financing companies, acquisitions of non-performing assets in China by foreign investors, start-up costs of organisations in China in connection with overseas direct investments, extension of loans abroad and outward remittance of profits by enterprises in China and transfers of personal property.

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Further reading
Circular on Abolishing and Revising the Examination and Approval Authority and Administrative Measures for Certain Foreign Exchange Transactions on the Capital Account
PRC Regulations for the Control of Foreign Exchange (2nd Revision)


Capital markets

China Securities Regulatory Commission, Regulatory Guidelines for Listed Companies No.4: Undertakings of De facto Controllers, Shareholders, Affiliated Parties and Acquirers of Listed Companies and of Listed Companies, and the Performance Thereof
上市公司监管指引第4号——上市公司实际控制人、股东、关联方、收购人以及上市公司承诺及履行

The undertakings that the de facto controllers, shareholders, affiliated parties and acquirers of listed companies and listed companies give in the course of an initial public offering of shares, refinancing, share reform, acquisition, restructuring or dedicated corporate governance activities to solve competition with related parties, inject assets, apply equity incentives or solve title defects must have a clear deadline for performance.

See the digest for more details.

Further reading
Measures for the Administration of Information Disclosure by Listed Companies