JC Master Legal News Issue 942

Key Takeaways for This Issue

The China Securities Regulatory Commission is soliciting public comments on the “Administrative Measures for Convertible Corporate Bonds (Draft for Comments).”

To implement the provisions of the new Securities Law, further refine the regulatory framework for convertible corporate bonds (hereinafter referred to as “convertible bonds”), diversify corporate financing channels, mitigate trading risks, and safeguard the legitimate rights and interests of investors, the China Securities Regulatory Commission has drafted the Measures for the Administration of Convertible Corporate Bonds (Draft for Public Comment) and is now soliciting public feedback.

The China Securities Regulatory Commission has approved the launch of international copper futures trading.

The China Securities Regulatory Commission recently approved the Shanghai International Energy Exchange to launch international copper futures trading and designated international copper futures as a specific domestic commodity, allowing overseas traders to participate. The official listing and trading date for the international copper futures contract is November 19, 2020.

MIIT: In the first three quarters, the value added of industrial enterprises above designated size nationwide increased by 1.2% year on year.

On the 22nd, the State Council Information Office held a press conference on the development of the industrial and telecommunications sectors in the first three quarters. Despite a sharp year-on-year decline in value added by industrial enterprises above designated size in the first quarter, year-on-year growth rebounded to 4.4% in the second quarter and 5.8% in the third quarter, with September posting a robust 6.9%. Huang Libin, spokesperson for the Ministry of Industry and Information Technology and Director-General of the Bureau of Operation Monitoring and Coordination, stated that China’s industrial economy has overcome the adverse impacts of the COVID‑19 pandemic and other challenges, achieving a steady recovery.

State Taxation Administration: Small and micro enterprises secured 495.9 billion yuan in loans through the “tax-bank collaboration” initiative.

Deepening the “delegation, regulation, and service” reform and optimizing the business environment are boosting the vitality of domestic market entities and fostering endogenous growth momentum. Recently, the State Taxation Administration reported that, this year, small and micro enterprises nationwide have secured 1.53 million loans through the “tax‑bank‑interaction” program, totaling RMB 495.9 billion—up 65% year on year.