TALADROS DE fRODUCCION �JIW
ESPECIFICACIONES TECNICAS
The CSRC has always been attaching great importance to the exchange and cooperation with overseas counterparts and international organizations. Through joining international organizations, signing bilateral MOUs, exchange of visits, holding training programs, hosting or participating in international conferences, the CSRC has developed strong ties with overseas regulatory authorities.
The CSRC joined the International Organization of Securities Commissions (IOSCO) as an ordinary member in 1995 and has been sitting in the IOSCO’s Executive Committee since September 1998 for 8 consecutive terms (1998-2008). At the 2006 IOSCO Annual Conference in Hong Kong, Mr. SHANG Fulin, the CSRC Chairman, was elected to be the Vice Chairman of the Executive Committee. Shanghai and Shenzhen Stock Exchanges joined the IOSCO as affiliate members in 1996 and later joined the World Federation of Exchanges. The three futures exchanges also joined a number of international bodies, such as Futures Industry Association, International Option Market Association, Futures and Options Association, etc. By active involvements in the above organizations, these organizations can introduce to the world Chinese market developments and draw on international regulatory expertise and operation experiences. As of December 2006, the CSRC had signed 32 MOUs with securities regulators from 36 jurisdictions (please refer to Table 6-1). The MOUs facilitate information exchange, cross-border assistance, and dialogue on policies and regulation. These MOUs also pave way for the overseas listing of Chinese enterprises, investing in China’s securities market by qualified foreign institutional investors, and the establishment of
joint-venture securities companies and fund management companies. The stock and futures exchanges, industry associations and the clearing house also entered into MOUs with overseas counterparts concerning information exchanges, staff trainings and research cooperation. In summary, the MOUs establish an effective channel of communications that helps to improve mutual understandings and facilitate exchanges between Chinese and overseas counterparts.
In June 2004, the CSRC established its think tank International Advisory Council (“IAC”) consisting of over ten international experts and scholars. The mission of the IAC is to collect the views and advice of international financial experts regarding the reform and growth of China’s capital markets, and to keep the CSRC abreast of the latest issues and trends in the global financial markets. The IAC normally holds a meeting annually, and its first and second meetings were held in Beijing (September 2004) ,Shanghai (June 2005) and Shenzhen (May 2006) respectively.
Table 6-1 List of MOUs Signed by the CSRC with Overseas Authorities
(As ofDecember2006)
Date Overseas Authorities MOU Titles
19 June 1993 Memorandum of Regulatory Cooperation
4 July 1995
Hong Kong Securities and Futures
Commission Memorandum of Regulatory Cooperation
Concerning Futures
28 Apr. 1994 U.S. Securities and Exchange Commission MOU Regarding Cooperation, Consultation and the Provision of Technical Assistance
30 Nov. 1995 Monetary Authority of Singapore MOU on Cooperation and Exchange of Information on Regulation of Securities and Futures Activities
23 May 1996 Australian Securities Commission MOU Regarding Securities and Futures Regulatory Cooperation
7 Oct. 1996 UK HM Treasury, Securities and Investments Board
MOU on Mutual Assistance and the Exchange of Information Concerning Regulatory Cooperation in Securities and Futures Matters
18 Mar. 1997 Ministry of Finance, Japan Memorandum of Understanding
18 Apr. 1997. Securities Commission of Malaysia MOU Regarding Securities and Futures Regulatory Cooperation 13 Nov. 1997 Comissao de Valores Mobiliarios, Brazil Memorandum of Understanding
22 Dec. 1997 Ukraine Securities and Stock Market
State Commission MOU Regarding Securities Regulatory Cooperation
4 Mar. 1998 Commission des opérations de bourse, France MOU Regarding Securities and Futures Regulatory Cooperation
18 May 1998. Commissariat aux Bourses, Luxemburg MOU Regarding Securities and Futures Regulatory Cooperation
8 Oct. 1998 Bundesaufsichtsamt für den Wertpapierhandel, Germany MOU Regarding Securities Regulatory Cooperation
3 Nov. 1999 Commissione Nazionale per le Societla Borsa, Italy ả e MOU Regarding Securities and Futures Regulatory Cooperation 22 June 2000 Capital Market Authority of Egypt MOU Regarding Securities Regulatory Cooperation 19 June 2001 Financial Supervisory Commission, Korea Arrangement Regarding Securities and Futures Regulatory Cooperation
18 Jan.2002 U.S. Commodity Futures Trading Commission Futures regulatory cooperation MOU
27 June 2002 Romania National Securities CommissionMOU Regarding Securities and Futures Regulatory Cooperation
29 Oct. 2002. Financial Services Board, South Africa MOU Regarding Securities and Futures Regulatory Cooperation
1 Nov. 2002. Netherlands Authority for the Financial Markets MOU on the Exchange of Information
26 Nov. 2002. Belgium Banking and Finance Commission MOU Regarding Securities and Futures Regulatory Cooperation
21 Mar. 2003. The Participating Members of Canadian Securities Administrators MOU Regarding Securities and Futures Regulatory Cooperation
22 May 2003. Swiss Federal Banking Commission MOU Regarding Securities and Futures Regulatory Cooperation
9 Dec. 2003 Indonesian Capital Market Supervisory Agency (BAPEPAM)
MOU In Relation to Mutual Assistance and Exchange of Information
14 Oct. 2004. Commodity Futures Trading Regulatory Agency of Indonesia MOU Regarding Futures Regulatory Cooperation
26 Oct. 2004 Comissao do Mercado de Valores Mobiliarios of Portugal MOU Regarding Securities and Futures Regulatory Cooperation
14 June 2005 Nigerian Securities and Exchange Commission MOU Regarding Securities and Futures Regulatory Cooperation
27 June 2005 State Securities Commission of Vietnam MOU Regarding Securities and Futures Regulatory Cooperation
15 Sep. 2006 Securities & Exchange Board of India MOU Regarding Securities and Futures Regulatory Cooperation
20 Sep. 2006 Comisión Nacional de Valores of Argentina (CNV) MOU Regarding Securities and Futures Regulatory Cooperation
20 Sep. 2006 Jordan Securities Commission MOU Regarding Securities and Futures Regulatory Cooperation
26 Sep. 2006 the Financial Supervisory Authority of Norway (Kredittilsynet) MOU Regarding Securities and Futures Regulatory Cooperation
10 Nov. 2006 Capital Markets Board of Turkey（SPK）MOU Regarding Securities and Futures Regulatory Cooperation
21 Nov. 2006 Forward Markets Commission of India MOU Regarding Commodity Futures Regulatory Cooperation