社区

China Global TV Network, owned by State Council of the People's Republic of China (China Media Group), ran further CSRC followup news coverage on Dec 9:  CSRC China's securities watchdog says it takes 'open attitude' toward overseas listing.

China's securities watchdog takes an open attitude towards enterprises' overseas listings, a CSRC official reiterated via CGTN media on Thursday to further drive home clearly CSRC's message for public information.

China Securities Regulatory Commission (CSRC) fully respects domestic enterprises' independent choice of listing places in accordance with laws and regulations, said Shen Bing, director of the international affairs department at the CSRC, in a virtual seminar.

The statement came after the authority clarified the rumor of China demanding its companies to delist from the U.S. on Sunday.

Regulations on the platform economy do not mean to clamp down certain industries or private entities or any companies, nor do they have a correlation with enterprises' overseas listing activities, said CSRC. Regulations are not targeted at any companies or where the companies are listed.

"As far as we know, some domestic companies are continuing actively communicating with domestic and foreign regulators to seek new listing in the U.S. markets."

CSRC also highlighted and pointed out it would be noteworthy that overseas regulators in many other countries are also proactively taking various regulatory measures with a view to promote sound and sustainable development and strengthen platform economy, regulations are for making businesses stronger and protecting consumers.  Similiar to what other countries with good governance are doing, regulations are aimed at limiting monopoly, protecting SMEs, safeguarding data and personal information security, and preventing the disorderly expansion of capital.

CSRC reiterated relevant policy initiatives of the Chinese government are not targeted at specific industries or private companies, nor are they necessarily connected to overseas listing of Chinese companies.

The CSRC also stated that it will release positive information on the communication between China and the United States as CSRC will continue its candid dialogues with its U.S. counterparts, and endeavour to resolve the remaining issues in audit oversight cooperation in the near future.

https://news.cgtn.com/news/2021-12-09/CSRC-has-an-open-attitude-for-companies-opting-for-overseas-listing-15RmgL36QNO/index.html

CSRC Fintech Regulators Chinese Newsfacts Statement:

http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/202112/t20211205_409376.html 

CSRC Fintech Regulators English Newsfacts Statement:

http://www.csrc.gov.cn/pub/csrc_en/newsfacts/release/202112/t20211205_409377.html

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