On 17 February 2023, the China Securities Regulatory Commission (CSRC) of the People’s Republic of China published the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (境内企业境外发行证券和上市管理试行办法) (Trial Measures) and five practising notes. These regulations took effect on 31 March 2023. Subsequently, on 16 May 2023, the CSRC published the sixth practising note which took effect on 16 May 2023. The Trial Measures and six practising notes (collectively, Filing Regulations) established a filing-based administration regime for direct and indirect overseas securities offerings and listings by domestic companies incorporated in Mainland China.
In certain circumstances, companies listed outside Mainland China (Issuer) may also be caught by the Filing Regulations. We highlight below the applicability of the Filing Regulations to such Issuers.
2023年2月17日，中国证券监督管理委员会（证监会）发布了《境内企业境外发行证券和上市管理试行办法》（《试行办法》）和五项适用指引，于2023年3月31日生效。随后，2023年5月16日，证监会发布了第六项适用指引，于2023年5月16日生效。《试行办法》和六项适用指引（统称为备案规则）建立了中国境内企业直接或间接到境外发行证券或将其证券在境外上市的备案管理制度。
在某些情形下，备案规则也可能适用于已经在中国大陆以外上市的公司。本文将讨论备案规则的适用性。
If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
如果您希望获得有关上述或任何其他法律领域的信息或协助，可联系您通常合作的王律师事务所的合伙人或以下任何一位合伙人:
CHONG Hong Chiang
Head – China Practice
Partner – Equity Capital Markets
d +65 6416 8005
e hongchiang.chong@wongpartnership.com
Click here to view Hong Chiang's CV.
Joseph HE
Partner – China Practice
d +65 6416 8218
e joseph.he@wongpartnership.com
Click here to view Joseph's CV.
MIAO Miao
Partner – China Practice
d +65 8129 6898
e miao.miao@wongpartnership.com
Click here to view Miao's CV.