News Snapshot:
The Chinese government issued new guidelines on 6 July aimed at clamping down on “illegal securities activities” and increasing the supervision of Chinese companies listed on foreign stock exchanges. The proposed measures will amend the rules for overseas stock offerings and increase the extraterritorial application of Chinese Securities Law for companies already listed abroad. They will also improve the verification of funding sources for securities investments and control leverage ratios, the Chinese Cabinet said in a statement. Commentators have speculated that this will put a chill on US stock offerings by Chinese companies and affect commonly-used structures in the Cayman...
