Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation)
Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation)
Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation)
Order of the China Securities Regulatory Commission No.167
June 12, 2020
The Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation), deliberated and adopted at the Fifth Executive Meeting in 2020 of the China Securities Regulatory Commission on June 1, 2020, are hereby promulgated for implementation as of the date of promulgation.
Yi Huiman, Chairman of the China Securities Regulatory Commission
Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation)
Chapter I General Provisions
Article 1 The Measures are formulated in accordance with the Securities Law of the People's Republic of China, the Circular of the General Office of the State Council on Work Related to Implementation of the Amended Securities Law, the Circular of the General Office of the State Council on Forwarding the Several Opinions on Launching the Pilot Program of Domestically Issuing Stocks or Depository Receipts by Innovative Enterprises Released by the China Securities Regulatory Commission (the "Several Opinions") and the relevant laws and regulations in order to regulate the activities related to the initial public offering under the pilot registration system on the ChiNext Board of the Shenzhen Stock Exchange, promote the development of growth-type innovative enterprises and start-up businesses, and protect the legitimate rights and interests of investors and the public interest.
Article 2 The Measures apply to the issuance and registration of shares that are initially publicly offered within the territory of the People's Republic of China and listed on the ChiNext Board of Shenzhen Stock Exchange (the "ChiNext Board").
Article 3 Applications by issuers for initial public offerings and listing on the ChiNext Board shall comply with the ChiNext Board's positioning.
The ChiNext Board is deeply implementing the innovation-driven development strategy, adapting to the development of the general trend of relying more on innovation, creativity, and creativity, mainly serves growth-type innovative enterprises and start-up businesses, and supports the deep integration of traditional industries with new technologies, new industries, new business forms, and new models.
Article 4 The China Securities Regulatory Commission (the "CSRC") will strengthen overall guidance of the review of registration, unify review concepts and standards, and regularly check the implementation of the review standards and systems of the Shenzhen Stock Exchange (the "SZSE").
Article 5 The initial public offering of shares and listing on the ChiNext Board shall comply with the issuance conditions, listing conditions and relevant information disclosure requirements, be subject to the SZSE's issuance and listing review in accordance with the law, and be reported to the CSRC for registration.
Article 6 An issuer shall act in good faith, and fully disclose the information necessary for investors to make value judgments and investment decisions according to the law.
......
Order of the China Securities Regulatory Commission No.167
June 12, 2020
The Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation), deliberated and adopted at the Fifth Executive Meeting in 2020 of the China Securities Regulatory Commission on June 1, 2020, are hereby promulgated for implementation as of the date of promulgation.
Yi Huiman, Chairman of the China Securities Regulatory Commission
Administrative Measures for the Registration of Initial Public Offerings on the ChiNext Board (for Trial Implementation)
Chapter I General Provisions
Article 1 The Measures are formulated in accordance with the Securities Law of the People's Republic of China, the Circular of the General Office of the State Council on Work Related to Implementation of the Amended Securities Law, the Circular of the General Office of the State Council on Forwarding the Several Opinions on Launching the Pilot Program of Domestically Issuing Stocks or Depository Receipts by Innovative Enterprises Released by the China Securities Regulatory Commission (the "Several Opinions") and the relevant laws and regulations in order to regulate the activities related to the initial public offering under the pilot registration system on the ChiNext Board of the Shenzhen Stock Exchange, promote the development of growth-type innovative enterprises and start-up businesses, and protect the legitimate rights and interests of investors and the public interest.
Article 2 The Measures apply to the issuance and registration of shares that are initially publicly offered within the territory of the People's Republic of China and listed on the ChiNext Board of Shenzhen Stock Exchange (the "ChiNext Board").
Article 3 Applications by issuers for initial public offerings and listing on the ChiNext Board shall comply with the ChiNext Board's positioning.
The ChiNext Board is deeply implementing the innovation-driven development strategy, adapting to the development of the general trend of relying more on innovation, creativity, and creativity, mainly serves growth-type innovative enterprises and start-up businesses, and supports the deep integration of traditional industries with new technologies, new industries, new business forms, and new models.
Article 4 The China Securities Regulatory Commission (the "CSRC") will strengthen overall guidance of the review of registration, unify review concepts and standards, and regularly check the implementation of the review standards and systems of the Shenzhen Stock Exchange (the "SZSE").
Article 5 The initial public offering of shares and listing on the ChiNext Board shall comply with the issuance conditions, listing conditions and relevant information disclosure requirements, be subject to the SZSE's issuance and listing review in accordance with the law, and be reported to the CSRC for registration.
Article 6 An issuer shall act in good faith, and fully disclose the information necessary for investors to make value judgments and investment decisions according to the law.
......