Video PlayerClose LONDON, Jan. 13 (Xinhua) — China’s new securities law, to be effective on March 1, marks another important step in China’s efforts to further liberalize its capital markets whose appeal for Chinese companies and foreign investors is increasing overtime, experts have said. China’s top legislature approved the revised Securities Law in late 2019, almost five years after the draft revision was submitted to it for the first reading in April 2015. “Major changes in the amended Securities Law include registration-based IPO regime (replacing the current approval regulatory framework), and enhanced disclosure requirements and investor protection rules,” said Mark Schaub, international partner at law firm King & Wood Mallesons. With the measures unveiled during the past year, greater two-way flows of capital and interaction between China and the wider world will be expected, Schaub told Xinhua. The China Securities Regulatory Commission (CSRC) issued in March 2019 regulations on the science and technology innovation board, which will pilot registration-based initial public offerings (IPO) system, a popular practice in many developed markets. “These measures of increased transparency and scrutiny will increase the appeal of China’s capital markets for foreign investors overtime,” Schaub said. The registration-based IPO system, which eases the requirements… Read full this story
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