Legislation roundup: Housing reserve, annual reports and consumer retail
November 26, 2015 | BY
Katherine Jo &clp articles &The use of housing reserve funds to purchase bonds has been permitted, the CSRC has clarified disclosure requirements for listed companies' annual reports and the State Council has encouraged the development of consumer-based industries
Capital Markets
Legislative Affairs Office of the State Council, Regulations for the Administration of Housing Reserves (Amendment Draft Sent for Review)
Provided that it ensures withdrawals and loans from the housing reserve, the Housing Reserve Management Centre may use the housing reserve to purchase sovereign bonds and certificates of deposit. Subject to the approval of the Housing Reserve Management Committee, it may use the reserve fund to purchase fixed return products with a good credit rating such as local government bonds, policy financial bonds, housing reserve personal loan-backed securities, etc.
See the digest for more details.
Further reading
China Securities Regulatory Commission, Guidelines for Contents and Formats for Information Disclosure by Companies That Offer Securities to the Public (No.2) – Contents and Format of Annual Reports (Revised in 2015)
Where disclosure of certain information is genuinely inconvenient for a special reason such as trade secrets, a company may withhold the disclosure thereof but shall give a detailed explanation in the relevant sections of the reasons why such information was not disclosed.
Further reading
Retail and Wholesaling
State Council, Guiding Opinions on Actively Leveraging the New Consumption Drawing Effect to Accelerate the Fostering and Formation of New Supply and Demand and New Driving Forces
Key upgrading consumption sectors, including service consumption, information consumption, green consumption, fashionable consumption, quality consumption and rural consumption will drive the rapid growth of investment in relevant industries, infrastructure and public services.
Further reading
Capital Markets
Legislative Affairs Office of the State Council, Regulations for the Administration of Housing Reserves (Amendment Draft Sent for Review)
Provided that it ensures withdrawals and loans from the housing reserve, the Housing Reserve Management Centre may use the housing reserve to purchase sovereign bonds and certificates of deposit. Subject to the approval of the Housing Reserve Management Committee, it may use the reserve fund to purchase fixed return products with a good credit rating such as local government bonds, policy financial bonds, housing reserve personal loan-backed securities, etc.
See the digest for more details.
Further reading
China Securities Regulatory Commission, Guidelines for Contents and Formats for Information Disclosure by Companies That Offer Securities to the Public (No.2) – Contents and Format of Annual Reports (Revised in 2015)
Where disclosure of certain information is genuinely inconvenient for a special reason such as trade secrets, a company may withhold the disclosure thereof but shall give a detailed explanation in the relevant sections of the reasons why such information was not disclosed.
Further reading
Retail and Wholesaling
State Council, Guiding Opinions on Actively Leveraging the New Consumption Drawing Effect to Accelerate the Fostering and Formation of New Supply and Demand and New Driving Forces
Key upgrading consumption sectors, including service consumption, information consumption, green consumption, fashionable consumption, quality consumption and rural consumption will drive the rapid growth of investment in relevant industries, infrastructure and public services.
Further reading
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