On November 16, 2010, the General Office of China's State
Council promulgated a circular aimed at better detection,
prevention and control of insider trading in capital markets by
requiring listed companies in China to establish a registration
system for people in possession of insider information (the
"2010
Circular")1. To further
implement the 2010 Circular, the China Securities Regulatory
Commission (the "CSRC") released the
Provisions for Establishing a Registration and Administration
System for Persons with Insider Information in Listed
Companies, which will become effective on November, 25 2011
(the "Provisions").
If an entity that exercises control over a listed company
(whether as a controlling shareholder or otherwise) and its
connected party learns of or initiates any major event related to
the listed company or any other event which has a major impact on
the share price of the listed company, the listed company must
identify all persons in possession
