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Home / Insurance / China's Securities and Exchange Commission seeks closer cooperation with the United States

China's Securities and Exchange Commission seeks closer cooperation with the United States



(Reuters) – China's securities regulator said on Sunday it would seek closer cooperation with its US counterpart and would support foreign quotations, after US regulators tightened information on Chinese companies and expressed concern over Beijing's regulatory measures.

The China Securities Regulatory Commission said in a statement that it had taken note of the US Securities and Exchange Commission's new requirements for the publication of Chinese corporate quotations and that the two sides should "maintain the spirit of mutual respect" and "strengthen communication on regulation of China-related equities. ”

The CSRC has always been open to companies choosing where to go public and“ China's basic national policies to promote reform and openness are uneven, and economic openness to the outside world will continue.

The SEC said on Friday that it would require Chinese companies to disclose "uncertainty about future measures by the Chinese government that could significantly affect the operating company's financial development" before allowing them to raise capital through US stock exchanges. .

Chinese issuers must also disclose whether they were denied permission by Chinese authorities to list on US stock exchanges and the risks that such approval could be denied or revoked, the SEC added.

China has tightened its regulatory grip on foreign equity issues after launching a cybersecurity probe by occupying giant Didi Global Inc. last month, just days after its listing in New York.

The Chinese cabinet said on July 6 that it would strengthen supervision of all Chinese companies listed offshore.

After that, China's cybersecurity regulator said that all companies with data for more than 1

million users must report for a cybersecurity audit before searching foreign listings. China's central bank has also said that non – bank payment companies must report plans for foreign quotations. Catalog

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