China is one step closer to the qualified domestic institutional investor (QDII) programme, allowing banks, fund management firms, insurers and securities institutions to convert Chinese clients' renminbi into foreign currency and invest it overseas.
New restrictions are in place on share offering, price floor and private placements in particular for foreign strategic investors. A new three-stage application process is introduced.
After a one-year suspension of new share sales, the Measures reopen the PRC's stock market with tightened listing requirements. Meanwhile, the Measures removed restrictions on the amount of IPO proceeds and the one-year lock-up prior to the IPO.
Promulgated: May 18 2006Effective: as of date of promulgationMain contents: The Guidelines are composed of:Part One: General ProvisionsPart Two: ProspectusesSection…
In an attempt to clarify and modernize the PRC's regulations governing the public and private offerings of securities by listed companies, the Measures specified the three general requirements regarding the issuer's compliance record, profitability and accounting reports.
Promulgated: April 28 2006Effective: May 1 2006Main contents: The Provisions comprise:Part One: General ProvisionsPart Two: NSSF Overseas Investment ManagersPart…
Issued: May 8 2006Effective: as of date of issueApplicability: The term 'inspectors' means senior management personnel who supervise and inspect the compliance…
National LegislationBANKINGGuidelines for Corporate Governance and Related Regulation of State-owned Commercial Banks国有商业银行公司治理及相关监管指引L3610/06.04.18CONSTITUTION…
Issued: May 8 2006Effective: as of date of issueInterpreting authority: China Securities Regulatory CommissionApplicability: Issuers compiling prospectuses…