State Council takes steps to reform capital market

The executive meeting of the State Council last week approved a draft regulation on Supervision and Administration of Securities Company.

“Based on the reform principles and experience in recent years, the Chinese government summarized them into a guideline for the Chinese capital markets, particularly securities companies,” said Charles Guan, managing partner at Grandall Legal Group. “This regulation offers great support for the current Chinese capital market in order to ensure its stable and rational development,” he added.