Dacheng Invited to Author An Introduction to Capital Markets: Debt & Equity as Part of Chambers Greater China Region Guide 2024

On January 18, 2024, Chambers and Partners, a leading international legal ranking company, released its Chambers Greater China Region Guide 2024. Dacheng Law Offices was invited to author An Introduction to Capital Markets: Debt & Equity as Part of the Guide. This contribution was spearheaded by senior partner Li Shoushuang, with the collaborative efforts of lawyers Chen Qin, Zhang Xiangfa, Lu Wangsheng, and Geng Renwen.

Drawing on years of extensive experience in the practice area of capital markets, Dacheng's lawyers focused on regulatory developments in recent years and provided insights into the state of China's capital markets in 2023, specifically involving debt and equity, regulatory developments, and future directions.

Looking back at 2023, China's capital market underwent many new changes. The full implementation of the Comprehensive Registration System significantly transformed the legal environment of the stock market. In the context of domestic listings, the introduction of the Opinions on High-quality Development of the Beijing Stock Exchange invigorated the Exchange's market activity, while the landscape for overseas listings faced considerable legal service challenges due to international conditions. In terms of the bond market, regulators intensified unified supervision; however, risks associated with redeeming bonds regarding local urban investment and real estate enterprises remain areas of concern. Looking ahead to 2024, the newly promulgated Company Law of the People's Republic of China and the eased international situation are expected to bring new opportunities to capital markets. It is hoped that China's A-share market will revitalize and promote the high-quality development of legal services in China's capital market.

Reflecting on 2023, Dacheng's lawyers were actively engaged in capital markets, completing 17 domestic and overseas IPOs. Over the years, Dacheng has consistently focused on the development of legal services related to IPOs, restructuring, mergers and acquisitions, private equity investment, refinancing for listed companies, and asset securitization. The firm maintains strong and positive relationships with key regulatory bodies, including the China Securities Regulatory Commission, Shanghai Stock Exchange, Shenzhen Stock Exchange, Asset Management Association of China, Securities and Futures Commission of Hong Kong, Stock Exchange of Hong Kong, U.S. Securities and Exchange Commission, New York Stock Exchange, NASDAQ, London Stock Exchange, and Singapore Exchange.

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