The People's Bank of China and the State Administration of Foreign Exchange issued a notice on relevant issues concerning the management of funds for domestic enterprises listed overseas.

According to the notice, the management of funds related to the registration of domestic joint stock companies with the China Securities Regulatory Commission for direct overseas issuance and listing or issuance of overseas depositary receipts shall be subject to this notice. The People's Bank of China, the State Administration of Foreign Exchange and its branches shall supervise, manage and inspect the business registration, account opening and use, cross-border payments and receipts, fund remittances, etc. related to domestic companies' overseas listings. Before the overseas listing, the domestically held equity shares by domestic shareholders, the domestically issued equity shares after the overseas listing, and the unlisted shares held by foreign shareholders shall be registered with the China Securities Regulatory Commission for H-share "full circulation".