Corporate Governance

By Alan [email protected]: www.freshfields.comThe role of the auditor is vital to achieving good corporate governance. Impartial assessment…

China has revised and issued new accounting standards, bringing the country's financial reporting system for listed companies in line with international practices.

New restrictions are in place on share offering, price floor and private placements in particular for foreign strategic investors. A new three-stage application process is introduced.

The Opinion clarifies issues such as organizational structure, incorporation form, timing and documentary requirements pertaining to approval applications, registration and capital contributions of foreign-invested enterprises, reinvestment requirements as well as approvals and registration of amendment.

After a one-year suspension of new share sales, the Measures reopen the PRC's stock market with tightened listing requirements.

After a one-year suspension of new share sales, the Measures reopen the PRC's stock market with tightened listing requirements. Meanwhile, the Measures removed restrictions on the amount of IPO proceeds and the one-year lock-up prior to the IPO.

Promulgated: May 18 2006Effective: as of date of promulgationMain contents: The Guidelines are composed of:Part One: General ProvisionsPart Two: ProspectusesSection…

In an attempt to clarify and modernize the PRC's regulations governing the public and private offerings of securities by listed companies, the Measures specified the three general requirements regarding the issuer's compliance record, profitability and accounting reports.

China has revised and issued new accounting standards, bringing the country's financial reporting system for listed companies in line with international practices.