Aggregated News From Investment Management Regulators

CSRC CN

Keynote Speech by Chairman YI Huiman at the CSRC Roundtable of China Development Forum 2021

Distinguished guests, ladies and gentlemen, Good evening! It gives me great pleasure to attend the 2021 annual meeting of the China Development Forum. The year 2021 marks the beginning of the 14th Five-Year Plan and a new journey to build China into a modern socialist country in all respects. In China’s pursuit of high-quality development, the new development stage, new development philosophy, and new development pattern have become the theme of our mission and received worldwide attention. The CSRC is bestowed with the important task of enabling the capital market, which is a key component of modern economic system, to better serve high-quality economic development....

Chairman YI Huiman Met with Mr. Hideo TARUMI, Japanese Ambassador to China

On 25 February 2021, CSRC Chairman YI Huiman met with Mr. Hideo TARUMI, the new Japanese Ambassador to China. Both sides agreed to further deepen pragmatic cooperation between capital markets of China and Japan. They also discussed issues including Chinese capital markets opening-up and prospects for the Japanese economy and financial markets. This news item was originally published by the China Securities Regulatory Commission (CSRC CN). For more information, please see the Source Link.

Second China-Japan Capital Markets Forum Successfully Held

The Securities Association of China (SAC) and Japan Securities Dealers Association (JSDA) jointly organized the second China-Japan Capital Markets Forum in virtual format on January 25th, 2021. Mr. FANG Xinghai, Vice Chairman of China Securities Regulatory Commission (CSRC), as well as Chairman Ryozo HIMINO of Japan Financial Services Agency (JFSA) and Chairman Mitsuhiro HASEGAWA of Japan Securities and Exchange Surveillance Commission (SESC) attended the Forum online and delivered speeches. Participants from both sides engaged in in-depth discussions about topics of mutual interest, including deepening reform and opening-up of China’s capital markets, enhancing China-Japan capital markets cooperation, and leveraging capital markets...

CSRC Spokesperson Answered Reporter Questions Regarding the NYSE Starting Delisting Process of Three Chinese Telecom Companies

Reporters: The New York Stock Exchange (NYSE) announced on December 31st 2020 that it had begun delisting proceedings for China Telecom Corp. Ltd., China Mobile Ltd., and China Unicom Hong Kong Ltd. (hereinafter referred to as the three telecom companies). What is the CSRC’s comment on this matter?    CSRC Spokesperson: We have taken note of this development. With their American Depositary Receipts (ADRs) issued and traded on the NYSE for about two decades, the three Chinese telecom companies have always adhered to market rules and regulatory requirement of the U.S. securities markets and have been widely recognized by global investors....

CSRC and MAS held the 5th Supervisory Roundtable

China Securities Regulatory Commission (CSRC) and the Monetary Authority of Singapore (MAS) held the 5th CSRC-MAS Supervisory Roundtable on December 22, 2020 in virtual format. The Roundtable was co-chaired by Mr. Fang Xinghai, Vice Chairman of the CSRC, and Mr. Ong Chong Tee, Deputy Managing Director of the MAS. Both sides exchanged views and reached important consensus on areas including regulatory responses to the COVID-19, pragmatic cooperation on securities and futures markets and global joint efforts in green or sustainable finance. The Roundtable was attended by nearly 50 participants including MAS’s Assistant Managing Director Lee Boon Ngiap, Leong Sing Chiong...

Officials from Relevant Departments of the CSRC Answered Reporter Questions regarding the U. S. House Approving Holding Foreign Companies Accountable Act

Reporters: The U.S. House of Representatives has passed the Holding Foreign Companies Accountable Act (hereinafter referred to as the proposed Act) , which may prohibit listing of securities in the U.S. markets for foreign issuers whose audit firms do not satisfy the inspection requirements of the U.S. Public Company Accounting Oversight Board(PCAOB) for 3 consecutive years, and impose additional disclosure requirements for these foreign issuers. What’s the CSRC’ comment on this matter? CSRC officials: We have taken note of this development. The proposed Act is to impose additional disclosure requirements on foreign issuers, requiring them to establish that they are...

CSRC Holds the 17th International Advisory Council Meeting

On November 18th, 2020, the CSRC held its 17th International Advisory Council (IAC) meeting via video-link. 14 IAC members including IAC Chair Sir Howard Davies and Vice Chair Ms. Laura M. Cha, together with the CSRC Chairman Yi Huiman, and Vice Chairman Fang Xinghai were present at the meeting. Heads of the CSRC departments, regional offices and affiliated institutions also attended the meeting. The theme of this year’s IAC meeting was “Firmly Uphold Openness and International Cooperation and Jointly Tackle Global Risks and Challenges”. By focusing on the two topics including “International Economic and Financial Landscapes and Sound and Steady...

Officials from Relevant Departments of the CSRC Answered Reporters Questions regarding Audit Oversight Cooperation with the U.S.

Reporters: A U.S. Senator recently sent an open letter to every Chinese-based company listed on the U.S. stock exchanges, requesting explanations as to how these companies comply with the U.S. Public Company Accounting Oversight Board (PCAOB) supervisory rules. Further, according to the media, the U.S. Securities and Exchange Commission (SEC) is proposing new rules requiring companies with shares listed in the U.S. to get a second review of their books by an accounting firm from a country where the PCAOB can inspect; otherwise, the companies will face delisting. What's the CSRC's comment on this matter? CSRC officials: We have noted...

CSRC Spokesman Commented on Ant Group’s Plan to Refund Investors’ A-share Subscription Funds

Reporters: Ant Group and its lead underwriters have announced their plan to refund subscription funds for Ant’s IPO on A-share market. What's the CSRC’s comments on this matter? The CSRC’s spokesman: The Shanghai Stock Exchange (SSE) has suspended the listing of Ant Group on the STAR Market according to relevant regulations for the registration-based IPO regime. The Ant Group and its lead underwriters have therefore reached consensus to refund IPO subscription funds to all online, offline and strategic investors, with a process starting from Friday, November 6, 2020. The CSRC recognizes the above arrangement that is in the interest of investors...

CSRC Spokesman Commented on Matters Related to Innovation Future Funds

Reporters: Since the suspension of Ant Group’s listing on the STAR Market, some investors are expressing their wishes to withdraw from the Innovation Future Funds which have an 18-month closed operation period. Would CSRC take measures to respond to this demand? The CSRC’s spokesman: We have taken notice of this developments. The CSRC has required related fund managers and distribution institutions to fully consider investors’ legitimate needs, to act to their best interests by working out feasible solutions in accordance with applicable laws and regulations, hence to protect lawful rights and interests of those investors. Source link

CSRC Spokesman commented on Ant Group’s Listing Suspension

Reporters: On 3 November, the Shanghai Stock Exchange (SSE) published the Decision to Suspend the Listing of Ant Group Co., Ltd. on the STAR Market. On the same day, Ant Group announced the suspension of its listing on the Hong Kong Stock Exchange. What is the CSRC’s attitude towards this matter? The CSRC’s spokesman: The SSE’s decision to suspend Ant Group’s listing on the STAR Market was made in accordance with applicable laws and regulations. The recent regulatory interview with Ant Group by relevant regulators and changes in the regulatory environment of fintech businesses may have a material impact on...

CSRC, PBC and SAFE Release the Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified...

Upon the approval by the State Council, for the purpose of  further opening up China’s capital markets, China Securities Regulatory Commission (CSRC), People’s Bank of China (PBC), and State Administration of Foreign Exchange (SAFE) hereby release the Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (hereinafter referred to as the Measures) on September, 25th , 2020. The CSRC is simultaneously releasing an implementary rule, Provisions on Issues Concerning the Implementation of the Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional...

Regulator Information

Abbreviation: CSRC
Jurisdiction: China

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