Corporate Governance

• China Securities Regulatory Commission, Provisions for the Regulation of Branches of Securities Companies (Trial Implementation)

  中国证券监督管理委员会证券公司分公司监管规定 (试行)

  Restrictions set on securities companies' business scope.

  July 09, 2008

• China Securities Regulatory Commission, Provisions on Issues Relevant to the Regulation of Controlling Interests and Equity Interests in Futures Companies

  中国证券监督管理委员会关于规范控股、参股期货公司有关问题的规定

  CSRC harnesses equity interests in futures companies.

  July 09, 2008

• State Council, Regulations for the Oversight of Securities Companies

  国务院证券公司监督管理条例

  State Council regulations pave the way for margin trading and short sale of securities.

  July 09, 2008

• State Council, Regulations for Handling Risks of Securities Companies

  国务院证券公司风险处置条例

  Five measures may be taken to handle securities companies at risk.

  July 09, 2008

• Supreme People's Procuratorate and Ministry of Public Security, Supplementary Provisions on the Standards for Pursuing Cases of Economic Crime

  最高人民检察院、公安部关于经济犯罪案件追诉标准的补充规定

  Clearer standards to deal with securities-related crimes.

  July 09, 2008

• Supreme People's Court, Provisions on Several Issues Concerning the Application of the «PRC Company Law» (2)

  最高人民法院关于适用《中华人民共和国公司法》若干问题的规定 (二)

  Shareholder right to dissolve the company clarified.

  July 09, 2008

• 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

• 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

• 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