In order to support enterprises to list overseas in accordance with laws and regulations, the Measures for the Administration of Overseas Issuance of Securities and Listing of Domestic Enterprises (hereinafter referred to as the "Administrative Measures for Trial Implementation"), The CSRC, in conjunction with the Ministry of Finance, the National Administration for the Protection of State Secrets and the National Archives Administration, revised the Provisions on Strengthening the Confidentiality and Archive Management Related to the Overseas Issuance and Listing of Securities (Announcement No. 29 of the CSRC [2009]) and formed the Provisions on Strengthening the Confidentiality and Archive Management Related to the Overseas Issuance and Listing of Securities by Domestic Enterprises (hereinafter referred to as the "Provisions"). Since March 31, 2023, it will be implemented simultaneously with the "Management Trial Measures".

This revision mainly includes: First, adjust the scope of application, link up the "Management Trial Measures", and clearly apply to direct and indirect overseas listing of enterprises. The second is to provide clearer and clearer guidelines for the confidentiality and file management of relevant entities in overseas listing activities. Third, improve cross-border regulatory cooperation arrangements to provide institutional guarantees for safe and efficient cross-border regulatory cooperation. Judging from the public solicitation of opinions, all parties in the market actively support the revision of the Provisions, believing that it is conducive to promoting the healthy and orderly development of overseas listing activities.

The CSRC will continue to promote the high-level institutional opening of the capital market, actively expand the beneficial results of the existing cross-border regulatory cooperation mechanism, create a good regulatory environment for overseas listing, and support enterprises to list overseas in accordance with laws and regulations.

Responsible Editor: Yun Yang