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CSRC Issues Rules Concerning the Establishment of Securities Companies with Foreign Ownership

China
11/06/2002
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On June 1, 2002, the long-awaited Rules on the Establishment of Securities Companies with Foreign Ownership were issued by CSRC, the regulator of China’s securities sector. The Rules will become effective on 1 July 2002.

The Rules, which aim to provide guidance on the establishment and operation of foreign-invested securities companies ("FISCs") in China., describe the business that FISCs may engage in, the conditions and procedures for setting up FISCs and the qualifications that must be met by foreign investors wishing to invest in FISCs in China.

According to the Rules, foreign ownership in FISCs should not exceed one-third and FISCs are not permitted to carry out securities business until they obtain Securities Business Permits from the CSRC.

For more information on this, please contact Luke Filei on +86 21 628 96363 or [email protected].

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