Capital Markets

According to a news piece released by Herbert Smith on December 11 2006, China's Zhaojin Mining Industry successfully completed an initial public offering…

American private-equity firm Carlyle Group has increased its bid for part of Xugong Group Construction Machinery by 20%, reports the Financial Times. Carlyle…

Promulgated: November 30 2006Effective: December 1 2006Applicability: The term "senior management personnel of securities companies" (Senior Management…

Cinda Asset Management plans to securitize US$604 million of Bank of China's bad loans, reports the Financial Times. Cinda is a state-owned firm that specializes…

Upon reopening its market to IPOs, China's Securities Regulatory Commission introduced new Measures which change the way underwriters and institutions conduct IPO price inquiries. What do these Measures entail and how will they affect China's market in the future?

This Circular addresses some of the issues in relation to foreign financial investments and asset management. The scopes of foreign exchange business and income are stipulated. Matters regarding the source of investment funds and their management are clarified.

The price of an IPO shall be ascertained by an approved inquiry recipient. The procedures and limitations regarding the sale and underwriting of securities are stipulated.

This Circular aims to enhance the investments of insurance capital. Insurance institutions may now invest in the equity of unlisted banks. Investment qualifications, withdrawal mechanism, and risk management are also covered.

Issued: September 5 2006Main contents: The Announcement provides for the definition of hybrid capital bonds and the requirements on the issuance of such…