Capital Markets

For the first time insurance proceeds are allowed to be invested in wealth management products of commercial banks, credit asset-backed securities of banking financial institutions and pooled fund trust plans of trust companies.

Securities companies are allowed to be financial product sales agents.

The dividend tax reduced to encourage investors to hold shares for the long term.

The industrial classification of listed companies now needs to be revised every quarter.

Mergers and acquisitions involving material asset reorganisation will be subject to greater scrutiny under new Regulations, which will increase due diligence costs for businesses in China

If, in the process of the CSRC's review of an M&A transaction, the listed company or the transaction counterparty that accounts for 20% or more of the transaction amount is found to have been involved in insider trading, the CSRC will terminate the review process.

Pooled asset management plans of securities companies now only require record filing.

Authority to approve qualifications of senior management of securities companies delegated to agencies of the CSRC.

Registered capital of a subsidiary of a fund management company is not allowed to be less than Rmb20 million.