China's securities regulator to speed up filings for companies listing overseas

China's securities regulator will speed up the filing process for Chinese companies seeking overseas listings, said an official on Wednesday at the two-day 2024 Lujiazui Forum, a major financial gathering in Shanghai.

Last year, the China Securities Regulatory Commission (CSRC) issued new regulations on overseas listings. As of June 18 this year, the commission has completed the filings for overseas listings for a total of 158 companies, said Fang Xinghai, vice chairman of the CSRC.

Among the listings, 85 companies have listed in the Hong Kong Special Administrative Region (SAR), and 73 have listed in the United States.

"Regarding overseas listings, the attitude of the China Securities Regulatory Commission is that we need to accelerate the filing process. Our current speed is faster than before, but overseas listing filings are still a relatively new phenomenon. Our speed is not yet sufficient, and we need to continue accelerating the filing process because there are still many companies in line. This is a positive sign, indicating that China has a large number of highly active enterprises. They all want to enhance their own scale and strength, and this is something we should strongly support," said Fang.

The Lujiazui Forum was created in 2008 as a high-level global platform for government officials, world financial leaders and outstanding scholars to discuss and foster international financial cooperation and further financial reform and market opening in China. Named after Lujiazui -- the financial district in China's finance capital of Shanghai, the forum also symbolizes the city's vision of becoming a leading international financial center.

China's securities regulator to speed up filings for companies listing overseas

China will take all necessary measures to safeguard its legitimate rights and interests against the latest U.S. move to impose semiconductor export control on China, a spokesman of China's Ministry of Commerce said on Thursday.

On Monday, the U.S. Commerce Department announced curbs on the sale of two dozen types of semiconductor-making equipment and restrictions on Chinese companies from accessing U.S. semiconductor technology.

Speaking at a press conference in Beijing in response, He Yadong, the spokesman, lashed out at the U.S. move.

"The U.S. has constantly overstretched the concept of national security, abused export control measures and engaged in unilateral bullying actions. On December 2, it once again announced semiconductor export control measures against China, which severely disrupts market rules and the international economic and trade order. It creates significant uncertainty for normal trade in the semiconductor sector and threatens stability of global industrial and supply chains. China will take necessary measures to resolutely safeguard its legitimate rights and interests," said the spokesman.

China to protect its legitimate rights, interests against US semiconductor export control