CHINA: SZSE Amends Business Rules for Major Assets Restructuring&nbsp

Thursday January 22 2015

The Shenzhen Stock Exchange (SZSE) has amended its Business Rules for Major Assets Restructuring in order to facilitate relevant business by listed companies.

The following amendments have been made to the Business Rules:

• Restructuring events are divided into two types subject to whether administrative permissions are required, and different disclosure procedures will be adopted;
• Implementation of disclosure requirements pertaining to parties in the restructuring
• Supervisory transparency is further enhanced by requesting listed companies to disclose the contents of SZSE enquires about non-administrative permission types of restructuring and the situations of amendments to restructuring plans.

Additionally, the China Securities Regulatory Commission (CSRC) has started to make public the feedback accumulated during the approval process open to the public in a bid to further enhance transparency.

The CSRC has proposed the following adjustments to the disclosure requirements:

• Listed companies must disclose the contents of feedback from the CSRC during the approval process no later than the next trading day
• Listed companies must prepare for reply materials and disclose the contents within 30 days of receiving feedback
• Listed companies must submit materials to the CSRC immediately after disclosing contents.

Click on the above link for further information.