Overseas offering, listing rules boost capital market opening up: experts

The regulations were released on Friday by the China Securities Regulatory Commission, the country's top securities watchdog. Comprised of one document of trial measures and five guidelines, the regulations improve the regulatory system, clarify filing requirements, strengthen regulatory coordination, define legal responsibilities and ensure inclusiveness.

The new regulations will help strengthen the compliance awareness of market entities and protect the legitimate rights and interests of investors, said Zhang Youjun, chairman of CITIC Securities.

According to the new rules, which take effect on March 31, there will be unified filing-based management measures for the direct and indirect overseas offering and listing activities of companies, and a coordination mechanism will be established to improve cross-border regulatory cooperation.

The new filing-based management measures will provide stronger support for Chinese companies to list and offer securities on overseas markets, and will make use of both domestic and overseas market resources for sound growth, the commission said.

Huang Zhaohui, chief executive officer of the China International Capital Corporation, said that long-term and sustained overseas financing has played a very positive role in promoting the rapid development of some industries and the opening-up of China's capital market.

The new regulations are a further improvement, optimization and upgrading of the existing regulatory system as the country faces new situations and new challenges, said Huang.