Interpretation of the New Securities Law

Author: Xu Ming
Publisher:
Publish Date: 2005-12-01
Features: On October 27, 2005, the 18th session of the Standing Committee of the 10th National People's Congress passed the newly revised "Securities Law of the People's Republic of China." The revision of the "Securities Law" lasted nearly three years and involved 40% of the provisions of the 1998 "Securities Law." The new "Securities Law" consists of 12 chapters and 240 articles, with 53 new articles added (including 8 articles merged from the "Company Law") and 27 articles deleted, while more articles were revised in terms of wording. The Chairman of the China Securities Regulatory Commission (CSRC) provided an in-depth explanation of the significance of revising the new "Securities Law": "The revision of the securities law systematically summarizes the practice of reform and development of China's capital market, broadens the legal space for innovation in the securities market, and provides a solid foundation for the capital market to grow stronger." To better understand and implement the new "Securities Law," we plan to provide a written analysis of the revision content of the new "Securities Law" in comparison with each chapter of the new "Securities Law." On October 27, 2005, the 18th session of the Standing Committee of the 10th National People's Congress passed the newly revised "Securities Law of the People's Republic of China." The revision of the "Securities Law" lasted nearly three years and involved 40% of the provisions of the 1998 "Securities Law." The new "Securities Law" consists of 12 chapters and 240 articles, with 53 new articles added (including 8 articles merged from the "Company Law") and 27 articles deleted, while more articles were revised in terms of wording. The Chairman of the China Securities Regulatory Commission (CSRC) provided an in-depth explanation of the significance of revising the new "Securities Law": "The revision of the securities law systematically summarizes the practice of reform and development of China's capital market, broadens the legal space for innovation in the securities market, and provides a solid foundation for the capital market to grow stronger." To better understand and implement the new "Securities Law," we plan to provide a written analysis of the revision content of the new "Securities Law" in comparison with each chapter of the new "Securities Law."