The China Securities Regulatory Commission, the country's top securities watchdog, has released new regulations for the filing-based management of Chinese companies' overseas securities offering and listing.
Comprised of one document of trial measures and five guidelines, the regulations improve the regulatory system, clarify filing requirements, strengthen regulatory coordination, define legal responsibilities, and ensure inclusiveness.
According to the new rules effective on March 31, there will be a unified filing-based management for companies' direct and indirect overseas offering and listing activities, and a coordination mechanism will be established to improve cross-border regulatory cooperation.
The new filing-based management will provide stronger support for Chinese companies to list and offer securities on overseas markets, and make use of both domestic and overseas market resources for sound growth, the commission said.
China remains committed to further opening up its capital markets, the commission noted.
The commission has stopped the approval procedure of overseas offering and listing, and started to deal with applications for filing.
Source: ECNS.cn
