Capital Markets

• Sponsorship System for Offering and Listing of Securities Tentative Procedures

  证券发行上市保荐制度暂行办法

  The Procedures undertake to reduce illegal and fraudulent activities in the PRC securities market by promoting sound corporate practices of both issuing companies and sponsors.

  March 31, 2004

• Taiwan Legal Survey: A Year of Continuity and Change

  A survey of the major law firms in Taiwan and their recent work.

  March 31, 2004

• China Securities Regulatory Commission, Sponsorship System for Issue and Listing of Securities Tentative Procedures

  中国证券监督管理委员会证券发行上市保荐制度暂行办法

  Promotes sound corporate practices for sponsors of listing companies.

  February 29, 2004

• Other Recent Legislation for this Month

  National LegislationAccountingSystem for Review of the Practice Quality of Accounting Firms (Trial Implementation) 会计师事务所执行质量检查制度（试行）L3110/04.03.04Construction(Administration…

  February 29, 2004

• 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