Capital Markets

• Beijing Municipality, Administration of Investment in and Establishment of Enterprises and Institutions Overseas Procedures

  北京市境外投资开办企业和机构管理办法

  Promulgated: November 17 2004Effective: as of date of promulgationInterpreting authority: Specific issues in enforcing these Procedures shall be interpreted…

  January 31, 2005

• Several Issues Concerning the Trial Implementation of an Inquiry System for Initial Public Offerings of Shares Circular

  关于首次公开发行股票试行询价制度若干问题的通知

  The Circular aims to improve the pricing mechanism for initial public share offerings. Issues such as procedures for price inquiries, price determinations, and format of share offerings are addressed.

  January 31, 2005

• Other Recent Legislation for this Month

  National LegislationBankingEngagement in Insurance Agency Business by Mainland Branches of Hong Kong and Macao Banks Notice 关于香港和澳门银行内地分行从事代理保险业务的公告L3610/04.11.01Business…

  November 30, 2004

• Taking Security from PRC Subsidiaries

  By Roy Zhang and Allen [email protected];[email protected] in the global financing of a multinational group, the…

  November 30, 2004

• China Securities Regulatory Commission, Issues Relevant to the Implementation of the «Administration of Appointment of Senior Management Personnel of the Securities Investment Fund Industry Measures» Circular

  中国证监会关于实施《证券投资基金行业高级管理人员任职管理办法》有关问题的通知

  Issued: September 23 2004Effective: October 1 2004Main contents: Where one of the followinMeasuresg is fulfilled, one is deemed to have acquired the fund…

  November 30, 2004

• China Insurance Regulatory Commission and China Securities Regulatory Commission, Administration of Stock Investments by Insurance Institutional Investors Tentative Measures

  中国保险监督管理委员会、中国证券监督管理委员会保险机构投资者股票投资管理暂行办法

  Allows insurance companies and insurance asset management companies to directly purchase and trade renminbi-denominated common stock, and to directly purchase convertible corporate bonds and other specified investment product.

  November 30, 2004

• Administration of Stock Investments by Insurance Institutional Investors Tentative Procedures

  保险机构投资者股票投资管理暂行办法

  The Procedures allow insurance companies and insurance asset management companies to directly purchase and trade renminbi-denominated common stock, and to directly purchase convertible corporate bonds and other specified investment product.

  November 30, 2004

• Stock Market Access Paves the Way for New Utilization of Insurance Funds

  Allows insurance companies and insurance asset management companies to directly purchase and trade renminbi-denominated common stock, and to directly purchase convertible corporate bonds and other specified investment product.

  November 30, 2004

• China Securities Regulatory Commission, Administration of Securities Investment Fund Operations Procedures

  中国证券监督管理委员会证券投资基金运作管理办法

  The Procedures regulates fund offering, purchase and redemption of fund shares, fund Investments and earnings distribution, and fund shareholders' general meeting.

  October 31, 2004

• China Securities Regulatory Commission, Administration of Senior Management Personnel of Securities Companies Procedures

  中国证券监督管理委员会证券公司高级管理人员管理办法

  Promulgated: October 9 2004Effective: November 15 2004Applicability: For the purposes of the Procedures, "senior management personnel of securities companies"…

  October 31, 2004