Aggregated News From Investment Management Regulators

China

Third China-Japan Capital Markets Forum Held in Virtual Format

The third China-Japan Capital Markets Forum was held in virtual format on September 7th, 2022. Mr. FANG Xinghai, Vice Chairman of China Securities Regulatory Commission (CSRC), Mr. Junichi NAKAJIMA, Commissioner of Japan Financial Services Agency (JFSA), and Mr. Mitsuhiro HASEGAWA, Chairman of Japan Securities and Exchange Surveillance Commission (SESC) spoke at the Forum.     Participants from both sides engaged in in-depth discussion about topics of mutual interest, including enhancing pragmatic cooperation between the capital markets of China and Japan, and leveraging capital markets to address population aging. The Forum held that capital markets of China and Japan were both of large size and...

CSRC Officials Answered Reporter Questions regarding China-U.S. Audit Oversight Cooperation Agreement

1. Question: What is the significance of signing the China-U.S. audit oversight cooperation agreement? Answer: The China-U.S. audit oversight cooperation agreement is an important first step by both sides to resolve issues concerning audit oversight cooperation. The agreement establishes a framework for regulators from both countries to carry out regulatory cooperation in inspecting and investigating audit firms within their jurisdiction in accordance with applicable laws. The agreement, in line with common practices in global capital markets, has laid the foundation for reciprocal and efficient cooperation between the two sides in compliance with domestic laws and regulatory requirements. The cooperation will help improve...

China Securities Regulatory Commission and Ministry of Finance of the People’s Republic of China Enter Into Audit Oversight Cooperation Agreement with U.S. Public Company...

China Securities Regulatory Commission, Ministry of Finance of the People’s Republic of China and Public Company Accounting Oversight Board of the U.S. signed an audit oversight cooperation agreement on August 26, 2022 and will advance this cooperation in the near future. Consistent with laws and regulations of both countries and international common practices, and in the spirit of reciprocity and mutual benefit, the agreement establishes a cooperation framework in line with the authorities’ respective laws and regulatory mandates, and sets out specific arrangements on conducting inspections and investigations by both sides over relevant audit firms within the jurisdiction of both sides. The signing of the agreement is an important step forward by...

CSRC Official of Relevant Departments Answered Reporter Question Regarding Recent Decisions by A Few Chinese Companies to Voluntarily Delist from U.S. Exchanges

Reporter: Today, a few Chinese companies announced their decision to delist from U.S. securities exchanges. What is the CSRC’s comment on this? Official: We have noticed these announcements. Listings and delistings are both common in capital markets. According to these companies’ announcements, they have strictly observed relevant U.S. rules and regulations since listed on the U.S. markets, and the delisting decisions are made out of their business considerations. These companies are listed on multiple markets, and only a small portion of their securities are traded in the U.S. markets. The delisting plan will not jeopardize these companies’ fund-raising ability through domestic and...

China-Switzerland Stock Connect Officially Launched

On July 28, 2022, Mr. Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission, and Ms. Daniela Stoffel, State Secretary of the Swiss Federal Department of Finance, jointly announced the official launch of the China-Switzerland Stock Connect and delivered speeches. Mr. Wang Shiting, Chinese Ambassador to Switzerland, attended and addressed the launch ceremony, followed by speeches of Mr. Thomas Zeeb, Head Exchanges of the SIX Swiss Exchange, Mr. Cai Jianchun, President of the Shanghai Stock Exchange, and Ms. Sha Yan, President & CEO of the Shenzhen Stock Exchange. The launch ceremony was also attended by Mr. Wang Guojian, Deputy Director-General of the Capital Account Management Department of the State Administration of Foreign Exchange and...

Joint Announcement of the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission

To further deepen mutual stock market access between the Mainland and Hong Kong (Stock Connect) and promote the development of both capital markets, the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) agree in principle to the inclusion of eligible exchange-traded funds (ETFs) by Mainland and Hong Kong exchanges in Stock Connect. It is hereby announced that: 1. To expand the variety of traded products and provide more investment opportunities and convenience for domestic and overseas investors, the CSRC and the SFC reached a consensus to include ETFs as eligible securities under Stock Connect...

Officials of Relevant CSRC Department Answered Reporter Question

Reporter: What are the CSRC’s comments on DiDi’s announcement today about its voluntary delisting from the U.S. stock exchange? CSRC Official: We have taken notice of the announcement. This is an independent corporate decision made by the company based on its own situation and market conditions. The CSRC has always maintained a consistent attitude that overseas listing of Chinese companies shall comply with applicable laws, regulations, and regulatory requirements in both their host and home markets, and required listed companies to fully protect the legitimate rights and interests of investors, especially those of small and medium investors.    DiDi’s voluntary delisting is a specific case that has no linkage to other Chinese companies listed overseas. It has nothing to do with the ongoing negotiation between Chinese and U.S....

Vice Chairman FANG Xinghai Virtually Met with Mr. Joerg WUTTKE, President of the European Union Chamber of Commerce in China

On 28th March 2022, CSRC Vice Chairman FANG Xinghai virtually met with Mr. Joerg WUTTKE, President of the European Union Chamber of Commerce in China, and representatives from member companies of the Chamber. They discussed topics includig enhancing China-EU capital market cooperation and supporting EU financial institutions' investment and business expansion in China. This news item was originally published by the China Securities Regulatory Commission (CSRC CN). For more information, please see the Source Link.

The CSRC Solicits Public Comments on Revision to the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic...

In order to support domestic companies to offer and list securities in overseas markets pursuant to laws and regulations, to strengthen the confidentiality and archives administration concerning such overseas securities offering and listing by domestic companies, and to enhance cross-border regulatory cooperation in this regard, China Securities Regulatory Commission (CSRC), Ministry of Finance of the People’s Republic of China (MoF), National Administration of State Secrets Protection, and National Archives Administration of China, have jointly revised the Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities Offering and Listing (Announcement No.29 of the CSRC, hereinafter referred to as the “Provisions”). Now...

Officials of Relevant CSRC Department Answered Reporter Questions

On April 2, 2022, China Securities Regulatory Commission (CSRC) released the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments, hereinafter referred to as the revised “Provisions”) for public comments. The reporter interviewed the officials of relevant department at the CSRC regarding the revised Provisions.     1. Reporter: What is the main consideration for revising the Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities Offering and Listing (Announcement No. 29 ) at the current time?     CSRC Official: The Provisions played a positive role in promoting confidentiality and archives administration related to overseas securities offering and listing since it...

CSRC Official of Department of International Affairs Answered Reporter Question

Reporter: What are the CSRC’s comments on the recent statement of Chair of the US Securities Exchange Commission (SEC) on China-U.S. audit oversight cooperation? Official: We’ve noticed the remarks made by the SEC Chair during a recent media interview. As Chair Gensler said, there have been thoughtful, respectful, and productive conversations between regulators from both sides. Chairman Yi Huiman of the CSRC and Chair Gensler have had three video conferences since last August over the remaining issues concerning audit oversight cooperation. The Chinese side has engaged with the Public Company Accounting Oversight Board (PCAOB) for many rounds of candid, professional and effective consultations...

CSRC to Implement the Requirements of the FSDC and Safeguard Capital Markets Stability

Shortly after the meeting of the Financial Stability and Development Committee under China's State Council (FSDC) on March 16, the leadership of the China Securities Regulatory Commission (CSRC) convened to plan measures for implementing the requirements of the FSDC.     The CSRC recognizes the FSDC meeting as timely and important against the complexity of situations. The meeting places high priority on capital markets by fully addressing market concerns and providing very targeted guidance for actions to be taken. This year, China’s national economy continues the pace of recovery. Major economic indicators stay in appropriate ranges as pro-growth policies on all fronts are taking effect. Listed...

Regulator Information

Abbreviation: CSRC
Jurisdiction: China

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