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Topic: China Securities Regulatory Commission

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	Current Conditions, Problems of Listed Companies and How to Exercise Regulation (Site not responding. Last check: 2007-10-06)
		CSRC is introducing the classified management system, that is, to carry out classified regulation on the basis of making a comprehensive analysis and assessment of the operational risks and information disclosure risks, giving priority attention and regulation to high-risk companies.
		CSRC should still regulate listed companies concerning whether or not their information disclosure conforms to regulations and whether or not their governance structure is sound and carry out post-punishment if irregularities are found.
		CSRC has adopted a series of measures to strengthen regulation and improve their quality, to promote the improvement of corporate governance structure, the internationalization of accounting standards and strengthen regulation of information disclosure of listed companies and execute post-punishments of irregularities.
	www.cipe.org /china/daochi.htm (5646 words)

	Asia Times Online - News from greater China; Hong Kong and Taiwan
		From the beginning, he described the introduction of regulatory commissions as a streamlining of the bureaucracy, but ultimately his goal was to bypass senior leaders and the existing bureaucracy to restore the previously decentralized powers back to the State Council.
		The effort to introduce regulatory commissions is dramatic in itself and no doubt catches the attention of foreign investors and political scientists, but it should not be mistaken for an indication of any potential rise of popular participation in the government decision-making process.
		The thrust that drives both Zhu and Wen to establish or expand regulatory commissions is similar: to consolidate and strengthen their powers, and secure the continued dominance of the Communist party.
	www.atimes.com /atimes/China/FH13Ad02.html (1269 words)

	State Council of the People's Republic of China - Wikipedia, the free encyclopedia
		Commissions outrank ministries and set policies for and coordinate the related activities of different administrative organs.
		Although formally responsible to the NPC and its Standing Committee in conducting a wide range of government functions both at the national and at the local levels, in practice the NPC's actual authority is rather limited, although it is not completely non-existent.
		The State Council acts according by virtue of the authority of the NPC, and there have been at least one case where the NPC has outright rejected an initiative of the State Council and a few cases where the State Council has withdrawn or greatly modified a proposal in response to NPC opposition.
	www.wikipedia.org /wiki/State_Council_of_China (650 words)

	Letter on Proposal to Allow Joint Ventures with Chinese Companies, January 2002
		The CSRC rule should not be administered in a way that precludes firms from a jurisdiction that provides a certification limited to public actions from qualifying to participate in a joint venture.
		Regulatory approval of the foreign institution by the CSRC should be based solely on whether the applicant has met the objective standards for qualification set out in the rules.
		China acceded to the WTO on December 11, 2001. We respectfully request that Article 6 of the Interim Provisions specify the percentages of a Chinese asset management firm that foreign firms are permitted to purchase that are no lower than the WTO agreement.
	www.ici.org /statements/cmltr/02_china_ventures_com.html (2476 words)

	China's Financial Sector 2001
		China's banking institutions are gearing up for foreign competition by courting potential foreign partners and upgrading information technology infrastructure to link up branches and automated teller machines built during the late 1990s.
		China committed under the WTO to allow foreign companies to set up mutual fund joint ventures with 33 percent foreign ownership at accession, to be boosted to 49 percent by 2004.
		China's commitment to allow life and non-life insurers, while removing all equity and geographic restrictions, will not prevent PRC regulators from adopting a go-slow approach to ensuring stability in the expansion of insurance businesses.
	www.uschina.org /statistics/chinas-financial-sector.html (2265 words)

	China Securities Regulatory Commission - Wikipedia, the free encyclopedia
		The China Securities Regulatory Commission (zh: 中国证券监督管理委员会) is an institution of the State Council of the People's Republic of China (PRC).
		Its functions are similar to that of the U.S. Securities and Exchange Commission in the United States.
		Formulating policies, laws and regulations concerning markets in securities and futures contracts.
	en.wikipedia.org /wiki/China_Securities_Regulatory_Commission (131 words)

	People's Daily Online -- China vows to continue share reform in orderly manner
		China said Thursday it will continue the country's ongoing share reform in an orderly manner and on the basis of maintaining stable development of its capital market while protecting the legitimate rights of investors.
		The five ministries or commission include the China Securities Regulatory Commission, the country's securities watchdog and China's State-owned Assets Supervision and Management Commission, which controls the country's leading State-owned enterprises that dominate most economic sectors.
		China's two stock markets, which were created 15 years ago in Shanghai and Shenzhen, respectively, have fallen continuously since 2001.
	english.peopledaily.com.cn /200511/11/eng20051111_220470.html (406 words)

	Comment Letter Urging China's Regulators to Open Securities Markets to All Investors, October 2003
		We would further recommend that China adopt a monitoring mechanism by the exchanges to facilitate compliance checks prior to the execution of trades when the 20 percent limit for QFIIs is approaching, similar to those employed by Korea and, until recently, Taiwan.
		The US Securities and Exchange Commission requires all mutual funds to invest substantially all of their assets in liquid securities in order to remain ready to satisfy redemption requests.
		The CSRC could take a similar approach to other supporting documentation in appropriate circumstances or, at a minimum, could indicate the key documentation which needs to be translated.
	www.ici.org /statements/cmltr/03_china_qfii_com.html (2545 words)

	Mergers and Acquisitions in China (2004) (Site not responding. Last check: 2007-10-06)
		China's accession to the World Trade Organisation has opened previously closed industry sectors to foreign investment, and operating restrictions previously imposed on enterprises with foreign investment have been gradually lifted, permitting greater access to the Chinese domestic market.
		Understanding the applicable regulatory framework and the government's role in the approval process is an important step in successfully concluding transactions in China.
		The State Development and Reform Commission ("SDRC"), which recently assumed the responsibilities of the former State Economic System Restructuring Office, is responsible for both approving the feasibility study reports of foreign investment projects and supervising the restructuring of state-owned enterprises.
	www.deacons.com.hk /eng/knowledge/knowledge_181.htm (3736 words)

	Commission approves cotton futures trading
		China is the world's biggest cotton producer and consumer, with an annual output of around 5 million tons and consumption of 6 million tons.
		In recent years, China's cotton imports have also been on the rise, so the fluctuation of prices in international market has had an increasing impact on domestic market and related businesses.
		That is also a sign of a warmer regulatory environment and the faster pace of innovation as the futures market recovers from years of adjustment.
	www.chinadaily.com.cn /english/doc/2004-05/21/content_332585.htm (423 words)

	Government
		China Geological Survey - Introduction to the bureau's role in geological and mineral exploration.
		China Securities Regulatory Commission - News, information on the share market, overseas listings, laws and statistics.
		China Securities Regulatory Commission - The CSRC is the executive branch of State Council Securities Commission, which is the central market regulation authority.
	www.supercrawler.com /Regional/Asia/China/Government (485 words)

	Faegre & Benson LLP: A New Commitment to Shareholder Rights in China
		China’s undertaking, as a condition on WTO accession, to permit foreign investment in the fund management industry lends further impetus to this trend.
		China’s commitment to opening the fund management industry to foreign investment will have little meaning unless foreign-invested fund managers can be confident of having a right to obtain compensation for fraud related losses.
		Considering that China’s contemporary capital markets are still a relatively new phenomenon, China’s legislators and the CSRC have done an admirable job of establishing a framework for disclosure and shareholder protection.
	www.faegre.com /articles/article_691.asp (2601 words)

	ABC News: China Issues New Rules for Traded Cos. (Site not responding. Last check: 2007-10-06)
		SHANGHAI, China Nov 2, 2005 — Chinese shares rose Wednesday in reaction to the announcement of new rules requiring major shareholders of companies with publicly traded stocks to pay off their internal debts, among other measures, in the latest attempt to revive the country's languishing stock markets.
		A notice by the China Securities Regulatory Commission, approved by China's cabinet, the State Council, lists 26 guidelines on improving the quality of companies with shares traded on the domestic bourses in Shanghai and Shenzhen.
		China's stock markets were founded in the early 1990s mainly as fund-raising vehicles for state-owned companies, entities not known for their profitability or good management.
	abcnews.go.com /Business/wireStory?id=1272966 (334 words)

	Asia Times Online - News from greater China; Hong Kong and Taiwan
		BEIJING - To give investors better protection and enrich their investment tools, China's top securities regulatory commission said yesterday a batch of new products and regulations will be introduced into the capital market in the near term.
		A number of Chinese banks, including China Construction Bank, China Development Bank and Shanghai Pudong Development Bank, have already applied to securitize part of their assets and issue relevant securities with the help of some investment banks.
		According to a drafted rule, which was published in September for public consultation, listed companies that plan to issue new shares, convertible bonds or which have their subsidiaries listed overseas should have the plans approved by more than half of the tradable shareholders.
	www.atimes.com /atimes/China/FL03Ad03.html (492 words)

	ISC - The International Securities Consultancy Limited
		Undertook a major project in China to advise the China Securities Regulatory Commission on: the steps necessary to achieve an integrated national market both from the trading and clearing/settlement aspects; the methods for rationalising the multiplicity of share types; capacity building for the regulatory and self regulatory organisations; developing a mutual fund industry.
		Further review of the draft national securities legislation in comparison with the legislation of other markets and, where necessary, the drafting of new sections for the proposed national securities legislation, and the collation and provision of appropriate reference materials.
		With the UK Securities Institute who worked for us on this assignment, we had a long relationship with the CSRC and helped run a "train the trainer" course in Shanghai.
	www.isc-global.com /experience/map/map.asp?Country=China (328 words)

	Untitled Document
		China’s Securities Regulatory Commission issued The Measures for the Administration of Sales of Securities Investment Funds and The Measures for the Administration of Operations of Securities Investment Funds.
		China’s Securities Regulatory Commission issued The CSRC Procedural Rule for the Implementation of the Administrative Licensing Law.
		China's Ministry of Justice issued a new rule on penalties for lawyers and law firms: the Measures on Punishing Lawyers and Law Firms for Illegal Activities.
	www.mac.doc.gov /China/RulesRegs2ndpage.htm (4680 words)

	BBC News \| BUSINESS \| China's stock markets plunge
		China's stock markets plunged on Monday after the regulator said it was considering restarting the sale of huge state holdings in listed companies.
		But the statement over the weekend by the China Securities Regulatory Commission (CSRC) has confirmed market rumours that sales of state holdings were about to begin again.
		The CSRC said it was considering reintroducing the sell-off of state shareholdings, though at a slower pace, with only firms listed for 10 years being required to participate in a bid to avoid a repeat of last summer's market falls.
	news.bbc.co.uk /hi/english/business/newsid_1786000/1786183.stm (644 words)

	World Capitl Forum Introduction (Site not responding. Last check: 2007-10-06)
		Over the past few years, China's economy has maintained a stable and growth momentum, and the pace of its opening-up to the outside gets faster and faster.
		After entering the WTO, China is playing a more and more important role in enhancing the world economy, and is changing gradually from the biggest processing plant to the investment center in the world.
		It ranked second in China with GDP of near 100 billion US Dollars in 1999, one-tenth of China's GDP is generated in Jiangsu, and a full quarter of China's GDP is produced within a five-hour drive.
	www.greaterchinasecurities.com /wcf/introduction.htm (857 words)

	American Metal Market: CFTC-China memo opens way for advice on shaping markets - Nonferrous - Commodity Futures Trading ...
		China has an interest in modernizing its capital markets and this is a statement of intent to speak generally."
		With China's rich physical commodities, Corcoran said, the agreement would help the CSRC, the Chinese commodities regulator, to understand the workings of the U.S. markets in a technical sense to enable it to modernize its operations.
		Corcoran said that China did not have futures contracts in metals but would be looking at developing that market in the future.
	www.findarticles.com /p/articles/mi_m3MKT/is_18_110/ai_82376136 (349 words)

	LME Canvasses CSRC to OK Overseas Futures Trading (Site not responding. Last check: 2007-10-06)
		An official of related securities regulatory department noted on Oct 15 that up to now over 10 enterprises have simultaneously filed application to the China Securities Regulatory Commission (CSRC) and the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) for overseas futures trading, the majority of which are metal enterprises.
		China is one of the largest producers of metal, with copper, tin and zinc ranking the world's foremost in output, hence the huge market potential attracting LME.
		CSRC also made response: LME are invited to pass on futures supervision system, statutes as well as exchanges' risk control in Britain to CSRC staff members.
	english.peopledaily.com.cn /200210/17/eng20021017_105228.shtml (777 words)

	Chinese Laws and Regulations --- People's Daily Online
		(1) With the agreement of the China Securities Regulatory Commission, a brief introduction to the placement may not necessarily be included in the reporting materials if all the additional shares are to be offered to the underwriter(s) in a lump sum.
		But the financial statements and attached notes and audit reports (including audits in and out of the territory) for the latest years, the report on profit forecast, the letter of legal opinion, the program for issuing and listing, etc. still have to be provided.
		(2) Before the China Securities Regulatory Commission works out separate rules, the summary of the prospectus may be prepared with reference to the Contents and Form of Prospectus, and should be completely consistent with the contents published on designated newspapers later.
	english.peopledaily.com.cn /data/laws/detail.php?id=333 (1701 words)

	Encyclopedia: State Council of China (Site not responding. Last check: 2007-10-06)
		State Commission of Science, Technology and Industry for National Defense
		The State Council (国务院, pinyin: Guówùyuàn) is the chief civilian administrative body of the People's Republic of China.
		Despite the inclusion of the Ministry for National Defense in the State Council does not control the People's Liberation Army which functions independently of the state council.
	www.nationmaster.com /encyclopedia/State-Council-of-China (661 words)

	Securities watchdog should also be watched
		Wang Xiaoshi, a China Securities Regulatory Commission (CSRC) official working closely with its approval committee, was reported to have been arrested earlier this month, for allegedly taking bribes for disclosing information about members of the approval committee to soon-to-be listed companies.
		As the country's securities watchdog, the CSRC plays an essential role in supervising the development of the country's decade-old stock markets.
		Few could believe the latest arrest of a CSRC official was only an isolated case that had nothing to do with the lack of effective supervision over the market watchdog itself.
	www.chinadaily.com.cn /english/doc/2004-11/18/content_392639.htm (321 words)

	Laws
		Recently some securities companies have carried out the research of business innovation, especially innovation of the business of entrusted investment management, a few securities companies have also cooperated with the commercial banks to raise fund from specific or unspecific investors, establish the collective investment plan, and carry out the business of collectively entrusted investment management.
		Therefore, China Securities Regulatory Commission (CSRC) is speeding up the formulation of measures for the administration of the collectively entrusted investment management business of securities companies.
		Any securities company that undertakes the collectively entrusted investment management business in violation of the provisions shall be dealt with strictly pursuant to the relevant provisions, and the relevant information shall be reported to CSRC in good time.
	findinchina.com /laws/law15.htm (363 words)

	China Securities Regulatory Comission
		The China Securities Regulatory Commission ("CSRC") has been established with the approval of the State Council of the People's Republic of China as the executive agency of the Securities Policy Committee of the State Council in the supervision and regulation of the national securities and futures markets in China.
		The Treasury and the SIB on one hand, and the CSRC on the other, recognising the increasing international activities in the securities and futures markets and the corresponding need for mutual cooperation between the relevant national authorities have, after friendly consultation, reached the following understanding.
		The purpose of this MoU is to promote investor protection and the integrity of the securities and futures markets by providing a framework for cooperation, including channels for communication, increased mutual understanding and the exchange of regulatory and technical information.
	www.hm-treasury.gov.uk /documents/financial_services/securities_and_investments/fin_sec_china.cfm (1173 words)

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