China revises regulation on secret protection, archive management in overseas listing

BEIJING -- China's top securities watchdog and related departments have revised the regulation on secret protection and archive management in the overseas listing for domestic companies.

The China Securities Regulatory Commission (CSRC), jointly with the Ministry of Finance, the National Administration of State Secrets Protection and the National Archives Administration, has completed the revision to match the newly released regulation for Chinese companies' overseas securities offering and listing.

Both the regulations will come into force on March 31 this year, the commission noted.

The revision has made adjustments to the application range of the regulation, clarified the direction for secret protection and archive management in the overseas listing, and enhanced cooperation in cross-border oversight, the CSRC said.

The commission added that it will continue to push forward high-level institutional opening-up of the capital market, expand oversight cooperation, and create a favorable environment for the lawful overseas listing of Chinese companies.

On Sunday, the CSRC released a new regulation, comprised of one document of trial measures and five guidelines, for the filing-based management of overseas securities offering and listing of Chinese companies.