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Order of the President of the People's Republic of China
No. 43

The "Securities Law of the People's Republic of China" has been approved on the 18th Meeting of the Standing Committee of the Tenth NPC of the People's Republic of China on October 27, 2005. This modified "Securities Law of the People's Republic of China" is now promulgated and shall come into effect as of January 1, 2006.

Hu Jintao, President of the People's Republic of China
October 27, 2005
Securities Law of the People's Republic of China

Chapter I General Provisions

Article 1 This Law is formulated for purposes of standardizing acts of securities issuance and trading, protecting the legitimate rights and interests of investors, maintaining socioeconomic order and public interest of society and promoting the development of the socialist market economy.

Article 2 This Law shall be applicable to the issuance and trading of stocks, corporate bonds and other securities confirmed by the State Council according to law within the territory of China. Where there are no provisions in this Law, provisions of the Company Law, and other laws and regulations shall be applicable.

Unless otherwise provided for in other laws and administrative regulations, this law shall be applicable to the issuance and trading of government bonds and securities investment funds.

The State Council may, in accordance with the principles of this Law, enact administrative provisions on issuance and trading of derived varieties of securities.

Article 3 The principle of openness, fairness and justice must be practiced in operations of securities issuance and trading.

Article 4 Parties interested in operations of securities issuance and trading have equal legal status and shall abide by the principle of self-willingness, compensation, honesty and trustworthiness.
   
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