China: Consultation closed on draft Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies

On 17 April 2022, the China Securities Regulatory Commission (CSRC) closed its consultation on the draft "Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies", which aim to change how Chinese companies making overseas listings deal with confidential information. The draft Provisions contain the rules that companies must follow if their overseas listing requires the disclosure of state secrets or information jeopardising national security or public interest. Where overseas authorities conduct inspections of a domestic company, the Provisions provide that such inspections will be enabled by a "cross-border regulatory cooperation mechanism".