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1、The leading lawyers and law firms in the Greater China RegionChina(PRC Firms)132CHINA(PRC FIRMS):An Introduction to Banking and FinanceContributed by the Banking&Finance Team at East&Concord PartnersContributed by 2021 was the opening year of the 14th Five-Year Plan.In this year,facing the complex a
2、nd severe international situation and the arduous task of domestic reform,development and stability,Chinas financial industry returned to serving the real economy,pushed forward supply-side structural reform of finance,and gradually expanded opening-up to a higher level.In capital markets,major even
3、ts such as the accounting fraud scandal involving Luckin Coffee and the planned delisting from NYSE of ride-hailing tech giant DiDi Global had an adverse ef-fect on Chinese enterprises listing overseas.Chinese enterprises listing overseas need to comply with both Chinese laws and reg-ulations and th
4、e financial audit requirements of US regulators,creating uncertainty which undermines investors confidence.In December 2021,the China Securities Regulatory Commission(CSRC)formulated the Provisions of the State Council on the Ad-ministration of Overseas Securities Offering and Listing by Do-mestic C
5、ompanies(Draft for Comments),as well as Administrative Measures for the Filing of Overseas Securities Offering and List-ing by Domestic Companies(Draft for Comments).According to the drafts,Chinese companies that seek to offer and list securities in overseas markets either directly or indirectly sha
6、ll fulfil the fil-ing procedure with the Chinese securities regulatory agency.The drafts also list circumstances under which an overseas offering and listing is prohibited,such as if the intended offering and list-ing is prohibited by Chinese laws and regulations or may consti-tute a threat to natio