Capital Markets

• China Securities Regulatory Commission, Opinion on the Application of Securities and Futures Laws No.3: Opinion on the Application of the Provision “No Major Change Shall Have Occurred in the Issuer's Core Business During the Most Recent Three Years” of Article 12 of the «Measures for the Administration of Initial Public Offerings of Shares and the Listing Thereof»

  中国证券监督管理委员会《首次公开发行股票并上市管理办法》第十二条发行人最近3年内主营业务没有发生重大变化的适用意见 - 证券期货法律适用意见第3号

  IPOs not allowed within a year of thorough reorganization.

  July 09, 2008

• Ministry of Finance and China Securities Regulatory Commission, Circular on Administrative Issues Relevant to Asset Appraisal Firms that Engage in Securities and Futures-related Business

  财政部、中国证券监督管理委员会关于从事证券期货相关业务的资产评估机构有关管理问题的通知

  Standards of asset appraisal firms controlled to protect the securities market.

  July 09, 2008

• TELECOM MERGER MAY ATTRACT FOREIGN PLAYERS

  The Ministry of Industry and Information, the National Development and Reform Commission and the Ministry of Finance have issued a joint statement to confirm…

  July 09, 2008

• Provisions on Issues Relevant to the Regulation of Controlling Interests and Equity Interests in Futures Companies

  关于规范控股、参股期货公司有关问题的规定

  The number of futures companies in which one entity has a controlling interest or equity interest may not exceed two, and the number of futures companies in which it has a controlling interest may not exceed one.

  July 09, 2008

• Provisions for the Regulation of Branches of Securities Companies (Trial Implementation)

  证券公司分公司监管规定 (试行)

  When a securities company is to establish a branch, it shall require the approval of the China Securities Regulatory Commission. A branch shall not have legal personality and its legal liability shall be borne by the securities company.

  July 09, 2008

• Provisions on Issues Relevant to Regulatory Opinions for Initial Public Offerings of Shares and the Listing Thereof by Securities Companies

  关于证券公司申请首次公开发行股票并上市监管意见书有关问题的规定

  Before a securities company submits an application for an initial public offering of shares and the listing thereof, it shall submit relevant materials to the China Securities Regulatory Commission and apply for the issuance of a regulatory opinion.

  July 09, 2008

• Opinion on the Application of Securities and Futures Laws No.3: Opinion on the Application of the Provision “No Major Change Shall Have Occurred in the Issuer's Core Business During the Most Recent Three Years” of Article 12 of the «Measures for the Administration of Initial Public Offerings of Shares and the Listing Thereof»

  《首次公开发行股票并上市管理办法》第十二条发行人最近3年内主营业务没有发生重大变化的适用意见 - 证券期货法律适用意见第3号　　

  When an IPO issuer restructures identical, similar or related businesses under the same corporate controller during the reporting period, it shall pay close attention to the effect of the reorganization on its total assets, or its operating revenue or gross profit.

  July 09, 2008

• China's Leading Lawyers

  How do the Leading Lawyer nominations reflect the evolution of the legal system in China? China Law & Practice takes a closer look at the results, and speaks to the nominees about their areas of expertise. Hear from the experts what the future holds for China law.

  July 09, 2008

• Circular on Administrative Issues Relevant to Asset Appraisal Firms that Engage in Securities and Futures-related Business

  关于从事证券期货相关业务的资产评估机构有关管理问题的通知

  The Circular sets forth the criteria for asset appraisal firms applying for securities and futures-related business valuation qualifications.

  July 09, 2008

• China's New Judicial Interpretation on the Company Law – A Step Toward Systemized Corporate Exit Mechanisms

  On May 12, 2008 the Supreme People's Court promulgated the Interpretation of Some Issues regarding the Application of the PRC Company Law, which became effective on May 19, 2008. The new interpretation provides guidelines on the application of Chapter 10 of the Company Law on dissolution and liquidation of companies incorporated in China, including foreign invested enterprises and domestically owned companies, both limited liability companies and joint stock companies.See the full text translation

  July 09, 2008