China – CSRC Investment Banking Business

China – CSRC Investment Banking Business

On 9 July 2021, CHI CSRC issued opinions on supervising securities firms.

  • CHI CSRC issued opinions on supervision of securities firms engaging in investment banking business under the registration system, to improve their intermediary roles.
  • Aims to address problems such as poor internal controls and corporate governance.


  • Clarifies standards and scope of supervision responsibilities by intermediaries, and focuses on solving the problems of what to supervise and how to supervise.
  • Strengthen construction of investment banking standards, improve investment banking supervision on information disclosure, due diligence, on-site inspections, etc.
  • Conduct special inspections on securities firms with high project withdrawal rates, high corporate bond default rates, poor evaluations, and problems reported by market.
  • Improve checks and balances of internal control department, incentive mechanisms.
  • Corresponding arrangements have been made such as accountability and self-supervision of regulatory agencies, and technological tools to enhance supervision.


  • Opinions shall come into force on the date of promulgation.