On Nov. 1, CHI CSRC issued foreign strategic investment measures.
CHI CSRC, CHI SAFE, CHI CMRC, CHI Tax, CHI SAMR jointly issued the Measures for the administration of strategic investment by foreign investors in listed companies.
CHI CSRC also issued answers to reporters' questions regarding the measures.
Aims to further broaden the channels for foreign investment in the securities market.
Amendments
The revised measures mainly lower the investment threshold across five aspects.
Relaxes the measure to allow foreign natural persons to make strategic investments.
Lowers the asset requirement to a total asset amount of no less than USD 50mn or a total amount of actual assets under management of no less than USD 300mn.
Allows foreign investors to implement strategic investment through tender offers.
For strategic investment implemented through private placement and tender offer, it is permitted to use shares of overseas non-listed companies as payment consideration.
Also reduces the shareholding ratio and shareholding lock-up period requirements.
Effectiveness
The revised measures will be effective from Dec. 2, 2024.
Nov. 4, 2024 CHI SAFE
On Nov. 4, 2024, CHI SAFE also published the same measures above on its website.
