China Justice Observer

中司观察

EnglishArabicChinese (Simplified)DutchFrenchGermanHindiItalianJapaneseKoreanPortugueseRussianSpanishSwedishHebrewIndonesianVietnameseThaiTurkishMalay

Hainan Pilots Overseas Listing Registration of HFTP Companies - China Legal News

Thu, 24 Dec 2020
Categories: China Legal Trends

avatar

 

Hainan Free Trade Port (HFTP) launched a pilot reform for HFTP companies to list shares overseas in November 2020.

On 27 Nov. 2020, the Hainan Bureau of the State Administration of Foreign Exchange ("SAFE") issued the Pilot Management Measures for the Companies in Hainan Free Trade Port for Overseas Listings Registration (海南自由贸易港内公司境外上市登记试点管理办法), launching the pilot reform of the overseas listing registration of joint stock companies registered in Hainan Pilot Free Trade Port (“HFTP companies”).

Overseas listing refers to the act of overseas issuance of shares and other securities, permitted by laws and regulations, by HFTP companies upon approval of the China Securities Regulatory Commission (“CSRC”), and public listing and trading of such securities on overseas stock exchanges.

New overseas listing registration, registration of change and deregistration of HFTP companies may be handled directly at a bank under the jurisdiction of the Hainan Bureau of the SAFE. HFTP companies shall present the registration certificate for overseas listing to open a designated foreign currency account for overseas listing of domestic companies with a bank for remittance and transfer of foreign currency funds for the purpose of initial public offering, additional public offering, share repurchases and other relevant businesses.

 

Contributors: Yanru Chen 陈彦茹

Save as PDF

You might also like

SPC Publishes Typical Cases on Public Security Crimes

In April 2024, China's Supreme People's Court (SPC) released five typical cases illustrating crimes against public security, emphasizing clarifications on trial criteria and sentencing principles, featuring a case involving serious injuries from objects thrown off a high-rise building.

Beijing Court Upholds Workers' Right to Offline Rest

The Beijing No. 3 Intermediate People's Court ruled that workers are entitled to overtime pay for “invisible overtime work” conducted via social media outside of working hours, protecting their right to “offline rest”.

China Revises State Secrets Protection Law

China’s national legislature, the National People’s Congress, revised the State Secrets Protection Law to enhance information classification, secrecy in technological innovation, and precise protection of state secrets, effective May 1, 2024.