中国证券法英文版Chinese Securities Law English Version 1Word格式文档下载.docx

中国证券法英文版Chinese Securities Law English Version 1Word格式文档下载.docx

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Article_1

ThisLawispromulgatedforthepurposesofstandardizingissuanceandtradingofsecurities,protectingthelegalrightsandinterestsoftheinvestors,safeguardingsocialandeconomicorderandpublicinterestandpromotingthedevelopmentofthesocialistmarketeconomy.

Article_2

TheprovisionsofthisLawshallapplytotheissuanceandtradingofshares,corporatebondsandothersecuritiesdeterminedbytheStateCouncilwithinthePeople’s

RepublicofChinainaccordancewiththeprovisionsofthelaw.WheretherearenorelevantprovisionsinthisLaw,theprovisionsoftheCompanyLawofthePeople’s

RepublicofChinaandotherlawsandadministrativeregulationsshallapply.

TheprovisionsofthisLawshallapplytothetradingoflistedtreasurybondsandsecuritiesinvestmentfundunits.Wheretherearespecialprovisionsinotherlawsandadministrativeregulations,suchprovisionsshallprevail.

TheadministrativemeasuresonissuanceandtradingofsecuritiesderivativesshallbeformulatedbytheStateCouncilinaccordancewiththeprincipleofthisLaw.

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Article_3

Issuanceandtradingofsecuritiesshallcomplywiththeprinciplesoftransparency,equityandfairness.

Article_4

Partiesengaginginissuanceandtradingofsecuritiesshallenjoyequallegalstatusandshallcomplywiththeprinciplesofvoluntaryparticipation,compensationandhonestyandtrustworthiness.

Article_5

Issuanceandtradingofsecuritiesshallcomplywiththeprovisionsoflawsandadministrativeregulations;

fraud,insidertradingandmanipulationofthesecuritiesmarketshallbeprohibited.

Article_6

Thesecuritiesindustryandbankingindustry,trustindustryandinsuranceindustryshallimplementindustryoperationsandadministrationseparately;

securitiescompanies,banks,trustorganizationsandinsuranceorganizationsshallbeestablishedseparately,unlessotherwiseprovidedbytheState.

Article_7

ThesecuritiesregulatoryauthoritiesoftheStateCouncilshallimplementunifiedsupervisionandadministrationonthesecuritiesmarketnationwideinaccordancewiththeprovisionsofthelaw.

ThesecuritiesregulatoryauthoritiesoftheStateCouncilmayestablishrepresentativeofficesbasedontheactualneedstoperformsupervisionandadministrationdutiesasauthorized.

Article_8

UndertheprerequisiteofunifiedStatesupervisionandadministrationonissuanceandtradingofsecuritiesandthesecuritiesindustryassociationshallbeestablishedinaccordancewiththeprovisionsofthelawtoimplementself-governance.

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Article_9

Stateauditauthoritiesshallcarryoutauditandsupervisionoverstockexchanges,securitiescompanies,securitiesregistrationandsettlementorganizationsandsecuritiesregulatoryauthoritiesinaccordancewiththeprovisionsofthelaw.

ChapterII—IssuanceofSecurities

Article_10

PublicofferingofsecuritiesshallsatisfythecriteriaprovidedinthelawsandadministrativeregulationsandobtaintheapprovalofthesecuritiesregulatoryauthoritiesoftheStateCouncilorauthorizeddepartment（s）oftheStateCouncilinaccordancewiththeprovisionsofthelaw.Noorganizationorindividualshallissuesecuritiesforpublicofferingwithoutobtainingpriorapprovalinaccordancewiththeprovisionsofthelaw.

Thefollowingsituationsshallbedeemedasapublicoffering:

（1）offeringofsecuritiestonon-specifictargets;

（2）offeringofsecuritiestomorethan200specifictargets;

and

（3）otherofferingsprovidedbythelawsandadministrativeregulations.Privateofferingofsecuritiesshallnotcarryoutadvertising,opensolicitationanddisguisedpublicitycampaigns.

Article_11

Issuersapplyingtomakeapublicshareofferingortoissueconvertiblecorporatebondsbywayofunderwritinginaccordancewiththeprovisionsofthelawortomakeapublicofferingofothersecuritieswhichrequireasponsorasprovidedbythelawsandadministrativeregulationsshallappointaqualifiedorganizationtoactasasponsor.

Asponsorshallcomplywithbusinessrulesandindustrynormsandtheprinciplesofhonestyandtrustworthinessandduediligencetoconductduediligencereviewontheapplicationdocumentsandinformationdisclosureoftheissuerandsupervisetheconductoftheissuer.

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ThequalificationsofsponsorsandtherelevantadministrativemeasuresonsponsorsshallbeprovidedbythesecuritiesregulatoryauthoritiesoftheStateCouncil.Article_12

PublicofferingofsharesfortheestablishmentofacompanylimitedbysharesshallsatisfythecriteriastipulatedintheCompanyLawofthePeople’sRepublicofChina

andotherrequirementsprovidedbythesecuritiesregulatoryauthoritiesoftheStateCouncil;

anapplicationforshareofferingandthefollowingdocumentsshallbesubmittedtothesecuritiesregulatoryauthoritiesoftheStateCouncil:

（1）articlesofassociationofthecompany;

（2）founders’agreement;

（3）nameofthefounders,sharessubscribedbythefounders,typeofcapitalcontributionandcapitalverificationcertificate;

（4）prospectus;

（5）nameandaddressofthereceivingbank;

（6）nameoftheunderwriterandtherelevantagreement.

Thesponsor’sletterforissuanceissuedbythesponsorshallbesubmittedifasponsor

isappointedinaccordancewiththeprovisionsofthisLaw.

Wherethelawsandadministrativeregulationsprovidethattheestablishmentofacompanyrequiresapproval,therelevantapprovaldocumentsshallbesubmitted.Article_13

Acompanyproposingtomakingapublicofferingofnewsharesshallsatisfythefollowingrequirements:

（1）ithasaproperandwell-functioningorganizationstructure;

（2）ithasmadeprofitsinconsecutiveyearsandisingoodfinancialstanding;

（3）itsfinancialaccountingdocumentsinthepastthreeyearsdonotcontainanyfraudulententriesandithasnotcommittedamajorviolationoflaw;

and（4）otherrequirementsprovidedbythesecuritiesregulatoryauthoritiesoftheStateCouncil.

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PrivateofferingofnewsharesbylistedcompaniesshallsatisfythecriteriastipulatedbythesecuritiesregulatoryauthoritiesoftheStateCouncilandtheapprovalofthesecuritiesregulatoryauthoritiesoftheStateCouncilisrequired.

Article_14

AcompanyproposingtomakeapublicshareofferingshallsubmitanapplicationforshareofferingandthefollowingdocumentstothesecuritiesregulatoryauthoritiesoftheStateCouncil:

（1）businesslicenseofthecompany;

（2）articlesofassociationofthecompany;

（3）resolutionofashareholders’generalmeeting;

（5）financialaccountingreport;

（6）nameandaddressofthereceivingbank;

（7）nameoftheunderwriterandtherelevantagreement.

Article_15

Companiesshallusetheproceedsfromtheirpublicshareofferingfortheusagepurposesetoutintheprospectus.Wheretheproceedsareproposedtobeusedforadifferentusagepurpose,aresolutionofashareholders’generalmeetingisrequired.Whereacompanyusestheproceedsforadifferentusagepurposearbitrarilyandfailstomakecorrectionorsuchactisnotratifiedbyashareholders’generalmeeting,itshallbeprohibitedfrommakingapublicofferingofnewshares.

Article_16

Apublicofferingofcorporatebondsshallsatisfythefollowingrequirements:

（1）thenetassetsofacompanylimitedbysharesshallnotbelessthanRMB30million;

thenetassetsofalimitedliabilitycompanyshallnotbelessthanRMB60million;

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（2）thecumulativebalanceofcorporatebondsshallnotexceed40%ofthecompany’snetassets;

（3）theaveragedistributableprofitsinthepastthreeyearsaresufficienttopayoutinterestforoneyearofthecorporatebonds;

（4）theusagepurposeoftheproceedsshallcomplywithStateindustrialpolicies;

（5）thecouponrateofthecorporatebondsshallnotexceedthecouponratestipulatedbytheStateCouncil;

（6）otherrequirementsstipulatedbytheStateCouncil.

Theproceedsfromapublicofferingofcorporatebondsshallbeusedforapprovedpurpose（s）onlyandshallnotbeusedtomakeupforlossesortopayfornon-productionexpenses.

Listedcompaniesissuingconvertiblecorporatebondsshall,inadditiontotherequirementsstipulatedinitem

（1）,satisfytherequirementsstipulatedinthisLawforpublicofferingofshares;

andshallobtaintheapprovalofthesecuritiesregulatoryauthoritiesoftheStateCouncil.

Article_17

Companiesproposingtomakeapublicofferingofcorporatebondsshallsubmitthefollowingdocumentstotheauthorizeddepartment（s）oftheStateCouncilorthesecuritiesregulatoryauthoritiesoftheStateCouncil:

（2）articlesofassociationofthecompany;

（3）methodofofferingofcorporatebonds;

（4）assetvaluationreportandcapitalverificationreport;

（5）otherdocumentsrequiredbytheauthorizeddepartment（s）ofthe