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On February 15, 2012, the State Administration of Foreign Exchange ("SAFE") issued the Notice on Relevant Issues Concerning Foreign Exchange Control on Participation in Equity Incentive Plans of Overseas Listed Companies by Domestic Individuals (Notice), which took effect immediately and superseded the Operating Rules for Foreign Exchange Control on Participation in Employee Ownership Plans and Stock Option Schemes of Overseas Listed Companies by Domestic Individuals issued in 2007, and the Notice on Delegating the Approval Authority on Initial Foreign Exchange Purchase and Payment Quotas and Opening of Foreign Currency Accounts Relating to Participation in Employee Stock Ownership Plans of Overseas Listed Companies by Domestic Individuals issued in 2008
On December 16, 2011, the China Securities Regulatory Commission, SAFE and the People's Bank of China jointly issued the Trial Measures on Domestic Securities Investment by RMB Qualified Foreign Institutional Investors of Fund Management Companies and Securities Companies
On January 30, 2012, the National Development and Reform Commission and the Shanghai Municipal Government jointly issued the Plan for Establishing Shanghai as an International Financial Center during the 12th Five Year Plan Period
On December 22, 2011, the State Administration of Taxation and the State Administration for Industry and Commerce ("SAIC") jointly issued the Notice on Strengthening Cooperation to Share Equity Transfer Information, which became effective on January 1, 2012
On June 20, 2012, the China Securities Regulatory Commission published a draft revision to the Notice on Relevant Issues Concerning the Implementation of the Measures for Administration of Securities Investment in China by Qualified Foreign Institutional Investors (“QFII”
