Top news of the week:

• Beijing Stock Exchange starts trading

  November 15, 2021

  Beijing Stock Exchange (BSE) announced that it is all set for its opening on November 15, 2021. As of November 10, there were already 71 companies listed on NEEQ Select which were supposed to be transferred to the newly established BSE. On top of that, 10 new stocks will be listed on BSE, making the BSE opening with 81 listed companies in total. By November 12, over 2.1 million investors have made appointments for authorization of qualified investors the BSE qualifying rights until November 12. Market believes that the total number of investors participating in trading would exceed 4 million upon opening of BSE.

• China facilitates green industrial development by supporting 'Key & Core Tech enterprises'

  November 16, 2021

  The Ministry of Industry and Information Technology of China, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, have jointly issued a guiding opinion on strengthening the combination of industry and finance to promote the development of green industry with nine tasks and three safeguard measures. In terms of financial means, efforts should be made to study the establishment of a guiding mechanism for nurturing green high-tech start-up enterprises and support “hard-tech enterprises” to be listed on the Science and Technology Innovation Board.

• China’s cyber watchdog unveils new draft data management regulations

  November 17, 2021

  The Cyberspace Administration of China, the nation’s cybersecurity watchdog, issued a set of draft regulations for better protection of the nation’s internet data security. The new regulations cover a wide range of topics such as personal information protection, security of important data, cross-border data security management, and obligations of Internet platform operators. In addition, the regulations clarify that companies listed in Hong Kong will be included in the scope of review and require the state to pay attention to the protection of personal information and important data and strictly regulate large Internet platforms. The new draft regulations are now open for public comment for a month.

   

• China approves plan to digitalize government services

  November 18, 2021

  China’s State Council executive meeting reviewed and approved a plan to digitalize government services nationwide during the 14th Five-Year Plan period. Premier Li Keqiang stressed that China would accelerate the construction of a digital government to improve administrative services. Meanwhile, authorities have decided to set up special refinancing loans to support the clean and efficient use of coal and promote green and low-carbon development. Besides, the meeting indicated that the promotion of government informatization is an important measure to improve management efficiency and service level.

• China officially establishes the national anti-monopoly bureau

  November 19, 2021

  China’s newly established National Anti-monopoly Bureau on Thursday inaugurated its office in Beijing, marking a new chapter of the country’s intensifying efforts to rein in companies’ monopolistic practices to maintain free competition of the market. The Bureau is under the State Administration for Market Regulation but authorized as a deputy-ministerial-level unit.