Capital Markets

HKEX proposes stricter ESG, corporate governance disclosures and standards; PBOC tightens rules surrounding anti-money laundering, terrorist financing efforts by financial institutions; and NDRC furthers Hukou reform with latest directive

CSRC redefines major shareholders of securities companies

SEC unveils amendments to implement law targeting U.S.-listed Chinese companies; China outlines plans to improve workers' protections in platform economy; and NDRC streamlines approvals process for foreign investment in encouraged industries

CSRC implements a registration system for corporate bond offerings

Pledgees are allowed to realize the pledged stock

Luokung Technology sues the U.S. government over CCMC designation; U.S. senators reintroduce bill proposing to bar blacklisted Chinese companies from U.S. capital markets; and VIE structures expected to undergo greater scrutiny under Chinese merger control regime according to new report

Scott Yu and Frank Jiang of Zhong Lun Law Firm highlight recently introduced national security measures for review of foreign investments including its broader reach within China, the scope of M&A targets and expanded sectorial coverage, and the new review mechanism coordinated by the NDRC

CSRC imposes requirements for adding new shareholders prior to an IPO application

CSRC issues guidelines on index funds aiming to protect investors

Biden delays implementation of part of Trump's military investment ban; U.S.-China financial investment flows far greater than official figures according to new report; and China launches national carbon emissions trading market