Fang Xinghai, vice chairman of the China Securities Regulatory Commission, calls on overseas listed companies to abide by domestic and foreign laws and keep the risk bottom line.
According to the news released by the WeChat public account of the China Listed Companies Association on Thursday (January 11), Fang Xinghai on Wednesday (January 10) at the establishment of the China Listed Companies Association's Overseas Listing Company Branch held in BeijingWhen speaking, make the above statements.
He said that in the past 30 years, Chinese companies have gradually extended from the original large state -owned enterprises to consumption, technology, medicine, Internet economy, new energy and other fields from the original large state -owned enterprises.EssenceIn the process, overseas listing promoted Chinese companies to continuously meet the requirements of the international capital market, improved the company's internal management level, and provided useful reference for the construction of China's capital market in many aspects such as securities legal system, financial accounting system, and corporate governance specifications.Overseas listing has also created good opportunities for investors in various countries to share China's economic development dividends.
He pointed out that the Central Economic Work Conference and Central Financial Work Conference held recently provided a fundamental follow -up and action guide for economic and financial work in the new year and the future.Overseas listed companies should conscientiously implement them in listing and daily businesses.
Fang Xinghai introduced that on March 31 last year, the management measures for overseas listing of domestic enterprises were officially implemented.As of now, 86 domestic companies, including VIE companies, have completed the record after the implementation of the new overseas listing regulations.Among them, 51 are planned to be listed in Hong Kong and 35 are planned to be listed in the United States.China has also further improved the overseas issuance of global deposit vouchers in domestic listed companies, and has approved a total of 23 listed companies to issue GDR, with a total fundraising of about 12.2 billion US dollars (about S $ 16.2 billion).It also opened a new window for overseas investors to participate in China's economic development.
He pointed out that overseas listed companies involve multiple applications of domestic and overseas legal and regulatory policies. The degree of marketization is high, and the challenges faced by enterprises to go public abroad are also more complicated.Especially in recent years, individual China has been listed abroad. It has experienced major violations of laws and regulations. Some excessively bless leverage and use the domestic and foreign markets to blindly financing and expanding thunder. Individual enterprises have serious financial fraud and false statements.
He emphasized that today, in a high degree of correlation between the global market, these not only have a extremely harsh impact in the overseas capital market, but also bring various input risks and must be severely punished.It is hoped that overseas listed enterprises will strictly abide by the laws and regulations of the listing of the listing, and at the same time abide by their national laws and regulations, and consciously safeguard the national interests.
