Photo taken on Aug. 24, 2020 at frontdoor of the Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province.(Xinhua/Mao Siqian)
BEIJING, Aug. 16 (Xinhua) -- China's Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) released on August 13 their guidelines on protecting investors in corporate bond issuance and listing, reported Xinhua-run Xinhua Finance.
The two bourses took the move to further optimize the fundamental rules on China's capital market and better protect the rights and interests of corporate bond investors.
SZSE released a guideline providing reference text for investor protection, pursuant to which issuers can compile the investor protection-related chapters of their prospectuses for offering corporate bonds planned to be listed on SZSE.
Corporate bond issuers are also allowed to compile content of higher standards related to investor protection and further complement and enrich other related requirements based on the real situations or results of communication with the interested investors or trustees.
SSE publicized two guidelines under its corporate bond issuance and listing review business guideline, providing reference texts for prospectuses of corporate bonds to be offered publicly on SSE and for investor protection-related content.
As SSE's corporate bond offering prospectus guideline shows, issuers can selectively adopt the related content in accordance with their respective situations, but shall disclose all the necessary information that investors need to make valuation judgment and investment decisions.
Meanwhile, corporate bond issuers and trustees shall make their bond offering prospectuses, trust agreements, bond holder meeting rules, and credit enhancement agreement to be consistent with the requirements in SSE's corporate bond investor protection guideline. (Edited by Duan Jing with Xinhua Silkroad, duanjing@xinhua.org)
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