The Beijing Stock Exchange has released 18 rules including the "Guidelines for Confirming the Conditions for the Listing of Non-Publicly Issued Corporate Bonds on the Beijing Stock Exchange"

On April 30, the Beijing Stock Exchange issued a public notice on 18 rules, including the "Guidelines for Confirmation of Listing Conditions for Private Placement of Corporate Bonds on the Beijing Stock Exchange." In order to standardize the process of reviewing, issuing, and supervising the maintenance period of privately placed corporate bonds, the Beijing Stock Exchange has formulated the guidelines and revised 17 business rules, which are now being published. The "Guidelines for Supervising the Information Disclosure Responsible Person in the Maintenance Period of Corporate Bonds of the Beijing Stock Exchange No. 4" will be implemented from May 1, 2026, and the other rules will be implemented from the date of publication. Some of the key points from the guidelines include: - The guidelines are established to regulate the confirmation of listing conditions for privately placed corporate bonds in accordance with the "Regulations on the Issuance and Trading of Corporate Bonds" and the "Listing Rules for Private Placement of Corporate Bonds on the Beijing Stock Exchange." - The review process for privately placed corporate bonds includes application, initial review, inquiry, review meeting, and issuing a letter of no objection for listing transfer. The Beijing Stock Exchange will issue the letter of no objection within 2 months from the date of accepting the application documents. - The Beijing Stock Exchange follows the principles of openness, fairness, and justice in conducting the review of privately placed corporate bonds. Information on review standards, progress, and results will be timely disclosed to the market through the exchange's website. - The guidelines emphasize the importance of timely and accurate responses to review inquiries by issuers, lead underwriters, and securities service agencies in accordance with relevant laws and regulations. - The guidelines also outline the procedures for conducting review meetings, including the composition of the review committee, the process of forming deliberative opinions, and the outcomes of the review meetings. Overall, the guidelines aim to ensure transparency, fairness, and efficiency in the review process for privately placed corporate bonds on the Beijing Stock Exchange.