Capital Markets

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…

In the world's biggest initial public offering (IPO) to date, the dual listing of Industrial & Commercial Bank of China (ICBC), China's biggest bank by…

Morgan Stanley's October 2 2006 acquisition of China's Nan Tung Bank resulted in the US investment bank gaining a commercial banking licence in China,…

Promulgated: August 4 2006Effective: September 1 2006Interpreting authority: China Securities Regulatory CommissionMain contents: Where the shares of a…

Morgan Stanley's October 2 2006 acquisition of China's Nan Tung Bank resulted in the US investment bank gaining a commercial banking licence in China,…