Capital Markets

• China Securities Regulatory Commission, Questions and Answers on the Standards for Information Disclosure by Companies that Offer Securities to the Public (No. 1): Extraordinary Gain or Loss (2004 Revision)

  中国证券监督管理委员会公开发行证券的公司信息披露规范问答第1号－非常性损益(2004年修订)

  Clarifies the disclosure requirement for listed companies regarding non-recurring gain or loss.

  February 29, 2004

• China Securities Regulatory Commission, Contents and Formats for Information Disclosure by Companies that Offer Securities to the Public Guidelines (No. 2): Contents and Format of Annual Reports (2003 Revision)

  中国证券监督管理委员会公开发行证券的公司信息披露内容与格式准则 第2号〈年度报告的内容与格式〉 (2003年修订)

  Listed companies are required to diclose information on negotiable share holders, asset losses, history of funds appropriation, and external security provision.

  February 29, 2004

• State Council, Promotion of the Reform, Opening and Stable Development of the Capital Markets Several Opinions

  国务院关于推进资本市场改革开放和稳定发展的若干意见

  The Opinions acknowledges the significance of vigorously development in the capital markets, outline reform ideologies, and provides directions for future liberalizations.

  February 29, 2004

• China Issues First Regulations Governing Derivatives Activities by Financial Institutions

  China is trying to make a new start in supervised derivatives trading since the freewheeling and risky practices that characterized the derivatives market in the 1990s.

  February 29, 2004

• Giving a Boost to Foreign Equity Participation in Domestic Financial Institutions

  For the first time legislation has been issued that makes clear the requirements for foreign acquisition of PRC banking and finance companies.

  February 29, 2004

• China Issues First Regulations Governing Derivatives Activities by Financial Institutions

  China is trying to make a new start in supervised derivatives trading since the freewheeling and risky practices that characterized the derivatives market in the 1990s.

  February 29, 2004

• Other Recent Legislation for this Month

  National LegislationConstructionValuation for Demolition and Removal of Urban Housing Guiding Opinion城市房屋拆迁估价指导意见4200/03.12.01Issue…

  January 31, 2004

• China Securities Regulatory Commission, Issues Relevant to Regulating the Acts of Transferring the Actual Controlling Power of Listed Companies Circular

  中国证券监督管理委员会关于规范上市公司实际控制权转移行为有关问题的通知

  Imposes restrictions on the listed companies in case of a change in leading shareholders.

  January 31, 2004

• China Securities Regulatory Commission, Client Asset Management Businesses of Securities Companies Trial Procedures

  中国证券监督管理委员会证券公司客户资产管理业务试行办法

  Procedures on the establishment of asset management business for securities companies.

  January 31, 2004

• New Laws Boost Banking Industry Supervision and Management

  China has revised two of the country's key commercial banking laws, and has issued a concrete formulation of the role and responsibilities of the China Banking Regulatory Commission and this has been welcomed by industry watchers.

  January 31, 2004