(Mar. The core of modern Chinese law is based on Germanic-style civil law, socialist law, and traditional Chinese approaches.. For most of the history of China, its legal system has been based on the Confucian philosophy of social control through moral education, as well as the Legalist emphasis on codified law and criminal sanction. LONDON, Jan. 13 (Xinhua) -- China's new securities law, to be effective on March 1, marks another important step in China's efforts to further liberalize its capital markets whose appeal for Chinese companies and foreign investors is increasing overtime, experts have said. China’s legislature has paved the way for a more market-based initial public offering regime by approving amendments to the country’s securities law after four years of deliberations. A revision to China’s Securities Law is scheduled for a fourth reading by top legislators next week. 17, 2020) On March 1, 2020, the newly revised Securities Law of the People’s Republic of China (PRC or China) entered into effect. Amendments to China’s Securities Law have rumbled on for five years, but are now hopefully nearing a conclusion. Article 219 Where a securities company violates the present Law by engaging in any securities operation beyond its business scope as permitted, it shall be ordered to correct.

A draft amendment to China's Securities Law was adopted on Saturday by the country's top legislature and will come into effect from March 2020. China's top legislature adopted the revised Securities Law on Dec 28, which is due to take effect from March 1, 2020. The New Securities Law now consists of 14 chapters, which outline the regulatory details for the issue and trading of securities, takeovers of listed companies, information disclosure and investor protection. The revised Securities Law, which becomes effective on Sunday, will lay a solid foundation for China’s capital markets to become more market-oriented and rules-based, analysts said. NEW YORK, Jan. 11 (Xinhua) -- The recent revision of China's Securities Law by its top legislature has the correct positioning of various stakeholders and the law's implementation will make initial public offering (IPO) on Chinese bourses the first choice for Chinese companies, according to an expert in this regard. On 28 December 2019, the 15th Meeting of the Standing Committee of the 13th National People's Congress adopted revisions to the Securities Law of the People’s Republic of China (the “Securities Law”), which became effective on 1 March 2020. Chinese lawmakers are moving closer to finalizing long-awaited revisions to the national Securities Law after five years of efforts to update the statute in line with the country’s fast-changing capital markets. At a meeting scheduled to run from Dec. 23 to Dec. 28, the Standing Committee of the National People’s Congress has been deliberating on draft amendments that are poised to change the fundamental laws governing China’s capital markets. Chinese law is one of the oldest legal traditions in the world. The new law will set the legal basis for the country to adopt a market-based initial public offering system and abolish administrative approval for issuing new shares. Here Ms Zhu Ning, Managing Partner from Alliott Group's law firm member in Beijing, Chance Bridge Partners updates us on proceedings.