This law regulates securities markets in China, ensuring transparency and protecting investors.

• Registration: Mandates registration of securities offerings.
• Disclosure: Requires accurate and timely public disclosures.
• Market Conduct: Prohibits insider trading and manipulative practices.

Originally enacted in 1999, with amendments in 2005 and 2019 to modernize the framework.

• Financial Penalties: Significant fines for violations.
• Operational Risks: Non-compliance may disrupt market activities.
• Reputational Damage: Breaches harm stakeholder confidence.

• Market Integrity: Promotes fair trading practices.
• Investor Trust: Builds confidence through transparency.
• Regulatory Alignment: Adheres to Chinese securities laws.