Recently, the Shanghai Stock Exchange ("SHSE") has issued a circular, releasing the Operating Guide for the Issuance and Listing of Corporate Bonds (the "Guide") to the public, aiming to optimize the procedures for the registration and listing of bond products, such as corporate bonds, enterprise bonds and assets backed securities for higher efficiency regarding such issuance and listing.
According to the circular, from October 24, 2016, for an application for listing and registration that is deemed as qualifying after review on a day, registration shall be completed on the very day, and issuers and underwriting institutions shall confirm the registration result in a timely manner and complete the issuance. Meanwhile, the circular specifies that issuers and underwriting institutions shall handle procedures for the registration and listing of bonds through the Administrative System for Bond Business of the SHSE within five working days according to requirements of the Guide once the issuance has been completed, and list bonds in time. If they fail to handle such procedures for the registration and listing of bonds, such case will be recorded in the management files for underwriting institutions maintained by the SHSE, and feedback will be given to underwriting institutions on a regular basis; for any underwriting institution as well as relevant responsible person that doesn't meet certain regulations, the SHSE will take applicable measures such as imposition of a circulation or suspension of the acceptance.