Legislation roundup: Cross-border financing in Free Trade Zones, listed company bond disclosure requirements

Further reading

Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List)

Shanghai Head Office of the People's Bank of China, Implementing Rules for the Macro Prudential Administration of Offshore Financing under Separate Accounting and Cross-border Fund Flows in the China (Shanghai) Pilot Free Trade Zone

Company Law

China Securities Regulatory Commission, Guidelines for Contents and Formats for Information Disclosure by Companies That Offer Securities to the Public (No.38): Contents and Format of Corporate Bond Annual Reports

中国证券监督管理委员会公开发行证券的公司信息披露内容与格式准则第38号——公司债券年度报告的内容与格式

The Guidelines specify the core contents of, and requirements in respect of, the annual reports, including brief descriptions of the company and the relevant intermediary firms, matters relating to the corporate bonds, details of finances and assets, details of business and corporate governance, material matters, financial reports, list of documents available for reference, etc.

See the digest for more details.

China Securities Regulatory Commission, Supplementary Provisions for the Disclosure of Annual Reports by Listed Companies That Offer Corporate Bonds to the Public

中国证券监督管理委员会关于公开发行公司债券的上市公司年度报告披露的补充规定

The Supplementary Provisions specify that listed companies that offer corporate bonds to the public are required to disclose “corporate bond-related matters” in a dedicated section of their corporate annual reports, as well as specifying the contents and requirements in respect of such disclosure.

Further reading

PRC Company Law (2013 Revision)

Measures for the Administration of the Offering and Trading of Corporate Bonds