Chinese Securities Law

Mon, 06 Jul 2026 00:00:00 +0000

Statutory Framework and the 2019 Revision

The Securities Law of the People’s Republic of China (the “PRC Securities Law”) was originally adopted in December 1998 and took effect on 1 July 1999. The law underwent a comprehensive revision in December 2019 (effective 1 March 2020) , representing the most significant overhaul in the statute’s history. The 2019 revision introduced a registration-based IPO system, substantially increased penalties for securities violations, strengthened investor protection mechanisms, and expanded the regulatory powers of the China Securities Regulatory Commission (CSRC) . The Securities Law is supplemented by the Company Law of the PRC (governing corporate governance, share issuance, and capital maintenance) and the Administrative Measures for Securities Issuance and Underwriting promulgated by the CSRC.

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Chinese Securities Law

Statutory Framework and the 2019 Revision