China Securities Regulatory Commission, Provisions on Strengthening Confidentiality and File Management Relating to Overseas Offerings and Listings of Securities by Domestic Enterprises (Draft for Comments)

Issued: April 2, 2022

Main contents: Where a domestic enterprise (here and hereafter, referring to an enterprise  within mainland China) is to provide or publicly disclose to an entity, such as a relevant securities company, securities service firm, or overseas (here and hereafter, meaning outside of mainland China) regulator or individual, or is to provide or publicly disclose through an overseas listed entity thereof, etc. documents or information that involves state secrets or work secrets of an authority or entity, it shall seek, in accordance with the law, the approval of the competent department with approval authority and report the same to the secrecy administrative department at the same level for the record. Where it is unclear or there is a debate as to whether a state secret is involved, a determination by the relevant secrecy administrative department shall be sought. Where it is unclear or there is a debate as to whether a work secret of an authority or entity is involved, a determination by the relevant competent business department shall be sought (Article 3).

Where another document or information that could have an adverse impact on national security or the public interest once divulged is to be provided or publicly disclosed, the requisite procedure shall be strictly carried out in accordance with relevant state provisions (Article 4).