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SAFE tightens control over the collective operation of foreign exchange capital of domestic enterprises’ internal members

  • Greenberg Traurig LLP
  • -
  • China
  • -
  • February 2 2010

The Administration Provisions on Collective Operation of Foreign Exchange Capital of Domestic Enterprises' Internal Members ("SAFE Provisions"), published by the State Administration of Foreign Exchange ("SAFE") on October 15, 2009, regulate the use of self-owned foreign exchange capital by internal members of a domestic enterprise (including a foreign-invested enterprise), including inter-offering of foreign exchange capital, foreign currency pool management and spot exchange settlement and sales through the internal financial company

SAFE issues new foreign exchange administration rules on offshore securities investments

  • Greenberg Traurig LLP
  • -
  • China
  • -
  • February 2 2010

The State Administration of Foreign Exchange ("SAFE") issued the Circular on Issues Relevant to Foreign Exchange Administration on Offshore Securities Investment by Fund Management Company and Securities Company (the "OSI Circular") on September 29, 2009, which took effect on the same day

The opening of securities account by VC enterprises or other partnerships becomes possible

  • Greenberg Traurig LLP
  • -
  • China
  • -
  • February 2 2010

China Securities Depository and Clearing Corporation Limited ("SD&C") published the Operating Guidance on Opening Securities Account by Partnership Enterprises and Other Non-Legal-Person Entities (the "Securities Account Guidance") at the beginning of December

China released guidance on financial services to support key industries and reduce productivity excess

  • Greenberg Traurig LLP
  • -
  • China
  • -
  • February 2 2010

The People's Bank of China ("PBOC"), the China Banking Regulatory Commission ("CBRC"), the China Securities Regulatory Commission ("CSRC") and the China Insurance Regulatory Commission ("CIRC") jointly released the Guiding Opinions on Supporting the Adjustment and Revitalization of the Key Industries and Restraining the Productivity Excess of Certain Industries via Financial Services (the "Financial Services Guiding Opinions") on December 22, 2009

Regulation of listing of corporate bonds on stock exchanges

  • Greenberg Traurig LLP
  • -
  • China
  • -
  • February 2 2010

Upon approval by the China Securities Regulatory Commission ("CSRC"), Shenzhen Stock Exchange ("SZSE") put the Circular on Promulgating the Rules of Shenzhen Stock Exchange on the Listing of Corporate Bonds (the "SZ Bond Listing Rules") into effect in the early November, and Shanghai Stock Exchange ("SSE") amended its Rules on the Listing of Corporate Bonds (the "SH Bond Listing Rules"