Bond Issuance by Securities Companies: A New Beginning

October 02, 2003 | BY

clpstaff &clp articles

By Mao Baigen & Thomas Wang, Pu Dong Law Office, ShanghaiThe China Security Regulatory Commission (CSRC) recently promulgated the Administration of…

By Mao Baigen & Thomas Wang, Pu Dong Law Office, Shanghai

The China Security Regulatory Commission (CSRC) recently promulgated the Administration of Securities Company Bonds Tentative Procedures (the Tentative Procedures). The CSRC is aiming to regulate the issuance and transfer of securities companies' bonds and effectively protect bondholders' lawful rights and interests. The Tentative Procedure became effective on October 8 2003, and hopefully this means that long-anticipated bond issues by securities companies are just around the corner. It has been a tough past few months for the industry in China, and the Tentative Procedures provide a welcome opportunity to bolster the securities business.

The Tentative Procedures cover the following main issues:

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