Capital Markets

• Shanghai Stock Exchange, Securities Trading by Qualified Foreign Institutional Investors Implementing Rules

  上海证券交易所合格境外机构投资者证券交易实施细则

  Issued: December 1 2002Effective: as of date of issueInterpreting authority: Shanghai Stock ExchangeMain contents: See the digest on the Shenzhen Stock…

  November 30, 2002

• China SecuritiesDepositary and Clearing Corporation Limited, Registration and Settlement for Securities Investments in China by Qualified Foreign Institutional Investors Implementing Rules

  中国证券登记结算有限责任公司合格境外机构投资者境内证券投资登记结算业务实施细则

  Issued: December 1 2002Effective: as of date of issueInterpreting authority: China Securities Depositary and Clearing Corporation LimitedMain contents:…

  November 30, 2002

• The Missing Piece of the Puzzle: New QFII Rules Open A Share Market

  The new QFII regulations mark another step in opening the securities markets further to foreign participation. Many new laws have made it apparent that the CSRC is committed to the path of financial reform and development.

  November 30, 2002

• Amending the Insurance Law: Long-Term Policy or Expedient Measures?

  China will promulgate an amended insurance law as part of a broad-ranging programme of post-WTO accession legislative renovation. An in-depth analysis of the pros and cons, and the implications for the China insurance market.

  November 30, 2002

• Administration of Securities Investments in China by Qualified Foreign Institutional Investors Tentative Measures

  合格境外机构投资者境内证券投资管理暂行办法

  This piece of legislation marks a significant development of China's securities markets as it opens up the A share and domestic bond markets to foreign investment for the first time. It lays down the application and qualification standards of QFII.

  November 30, 2002

• Issues Relevant to the Transfer of State-owned Shares and Legal Person Shares in Listed Companies to Foreign Investors Circular

  关于向外商转让上市公司国有股和法人股有关问题的通知

  A circular on the principles, procedures and rules regarding the transfer of state-owned shares and legal person shares in Listed companies to foreign investors issued by the CSRC, MOF and SETC.

  November 30, 2002

• Other Recent Legislation for this Month

  National LegislationConstitution and Legal SystemMinistry of Justice Announcement (2002 Order No.11): 96 China Representative Offices of Foreign Law Firms…

  October 31, 2002

• China Securities Regulatory Commission, Administration of Disclosure of Information on the Change of Shareholdings in Listed Companies Measures

  中国证券监督管理委员会上市公司股东持股变动信息披露管理办法

  Administrative rules on information disclosure obligations of listed companies.

  October 31, 2002

• The Securities Association of China, Membership Convention (Trial Implementation)

  中国证券业协会会员公约 (试行)

  The internal code of conduct for the Securities Association of China.

  October 31, 2002

• Administration of the Takeover of Listed Companies Measures

  中国证券监督管理委员会上市公司收购管理办法

  For the first time, clear rules have been spelled out as to how a takeover of listed Chinese companies can be done.

  October 31, 2002