Recently, a relevant official of the China Securities Regulatory Commission (CSRC) responded to reporters' questions on invigorating the capital market and boosting investor confidence, stating that since the implementation of the new regulations on overseas listing filing, enterprises have submitted filing materials actively and enthusiastically, and the number of applying enterprises has increased significantly. The CSRC has continuously improved the compliance standards and requirements for filing, strengthened regulatory communication and coordination between domestic and overseas regulators, and solidly advanced the filing work. A total of 19 enterprises of various types have completed overseas listing filing procedures for going public in Hong Kong and the United States. Next, the CSRC will continuously unblock the channels for enterprises to go public overseas, launch more qualified "green light" cases, including enterprises with Variable Interest Entity (VIE) structures and platform enterprises that the market pays close attention to. At the same time, it will promote the formation of a more transparent, efficient and smooth regulatory coordination mechanism for overseas listing, respect enterprises' independent choice of overseas listing places in accordance with laws and regulations, and support qualified enterprises to make good use of both domestic and overseas markets and resources to achieve standardized and healthy development. Since the beginning of this year, regulatory authorities have continuously refined the specific matters concerning the extraterritorial application of laws. Both overseas IPOs and the issuance of Global Depository Receipts (GDRs) have entered a new stage of the filing system. On February 17, the CSRC issued the Trial Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises. Market participants believe that the rebound in the popularity of overseas IPOs by domestic enterprises shows that the policy effects of the trial measures are gradually emerging, helping domestic enterprises better leverage both domestic and overseas markets and resources to achieve standardized and healthy development. The GDR-related system has been further improved. On May 16, the CSRC issued the Guiding Rules for the Application of Regulatory Rules - Category 6 for Overseas Issuance and Listing: Guidelines on Overseas Issuance of Global Depository Receipts by Domestic Listed Companies, which clearly stipulates that for the first overseas issuance of GDRs by domestic listed companies, they shall file with the CSRC within 3 working days after submitting the issuance and listing application overseas. As of August 22, 23 and 14 companies have listed on the US stock market and Hong Kong stock market respectively since the beginning of this year, and the number of companies listed on the US stock market has exceeded the total for the whole of last year. The industry expects that with the smoother channels for enterprises to go public overseas, it will play a certain incentive role in enterprises' overseas listing. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is a domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same actual controller. Both companies are under the same actual controller, managed under the principle of "One China", and comply with the laws of Hong Kong and mainland China.