China Securities Regulatory Commission

Market Infrastructure

Hong Kong SFC Releases 2017-18 Annual Report

By Manesh Samtani | 02/07/2018

Highlights for the year include progress on MIC regime, guidance on online trading platforms, and regulatory collaboration with other agencies.

Securities / Derivatives

First CDR Applicant Xiaomi Postpones Mainland Listing

By Garima Chitkara | 20/06/2018

Xiaomi, the first applicant for China’s Depository Receipt programme has decided to put its CDR offering on hold until after its Hong Kong IPO later this month.

Market Infrastructure

China Proposes Communist Party Unit at Listed Firms

By Garima Chitkara | 18/06/2018

The CSRC has proposed establishing a ‘CCP Unit’ at firms already listed and those looking to list on Chinese stock exchanges, for the purpose of carrying out Party activities.

Enforcement

CSRC Warns New Economy Firms Against IPO Over-Pricing

By Garima Chitkara | 18/06/2018

CSRC has singled out five new economy firms whose share prices had “wild swings” or dropped significantly below their highs or offer prices soon after listing.

Securities / Derivatives

China Cracks Down On Zero-Fee Bond Underwriting

By Garima Chitkara | 14/06/2018

The CSRC and the Securities Association of China reportedly sent a notice to brokers asking them to stop underwriting bond deals for free, a common practice in the country to maintain relationships with key clients and underwriting standings.

Enforcement

China, Hong Kong to Deepen Cross-Boundary Market Surveillance

By JP Reimann | 14/06/2018

Regulators discussed collaboration on market surveillance, intelligence sharing, coordinated investigations, and the establishment of a notification mechanism for cases involving dual listed shares and cross-boundary market misconduct.

Enforcement

CBIRC, SFC to Cooperate on Cross Border Supervision

By JP Reimann | 11/06/2018

New MoU to facilitate information exchange in the interest of investor protection, promoting competence and integrity of regulated entities, market and financial integrity, and maintaining financial stability.

Securities / Derivatives

UPDATED – China Allows CDR Listing On The Mainland

By Garima Chitkara | 11/06/2018

China’s securities regulator released rules for the issuance of China Depository Receipts, allowing overseas listed firms to access domestic investors; Xiaomi becomes first applicant for CDR listing.

Securities / Derivatives

China Tightens Rules on Money Market Funds

By JP Reimann | 04/06/2018

New rules cap individual redemptions from money market funds at ¥10,000; payment companies banned from advancing cash to realise same-day redemptions.