KYB CHINA(1995年11月2日国务院第37次常务会议通过 1995年12月25日中华人民共和国国务院令第189号发布 自发布之日起施行)
(Adopted at the 37th Executive Meeting of the State Council on November 2, 1995, promulgated by Decree No. 189 of the State Council of the People's Republic of China on December 25, 1995, and effective as of the date of promulgation)
为了规范股份有限公司境内上市外资股的发行及交易，保护投资人的合法权益，根据《中华人民共和国公司法》(以下简称《公司法》)的有关规定，制定本规定。
These Provisions are formulated in accordance with the relevant provisions of the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law") for the purpose of regulating the issuance and trading of domestically listed foreign-invested shares by joint stock companies and protecting the legitimate rights and interests of investors.
经国务院证券委员会批准，股份有限公司(以下简称公司)可以发行境内上市外资股；但是，拟发行境内上市外资股的面值总额超过3000万美元的，国务院证券委员会应当报国务院批准。
Upon approval by the Securities Committee of the State Council, a joint stock company (hereinafter referred to as the "Company") may issue domestically listed foreign-invested shares; provided, however, that if the total face value of the domestically listed foreign-invested shares to be issued exceeds US$30 million, the Securities Committee of the State Council shall report to the State Council for approval.
前款所称公司发行境内上市外资股，包括以募集方式设立公司发行境内上市外资股和公司增加资本发行境内上市外资股。
The issuance of domestically listed foreign-invested shares by a company as referred to in the preceding paragraph includes the issuance of domestically listed foreign-invested shares when establishing a company by means of share offer and the issuance of domestically listed foreign-invested shares when a company increases its capital.
国务院证券委员会批准发行境内上市外资股的总额应当控制在国家确定的总规模之内。
The total amount of domestically listed foreign-invested shares approved for issuance by the Securities Committee of the State Council shall be controlled within the total scale determined by the State.
公司发行的境内上市外资股，采取记名股票形式，以人民币标明面值，以外币认购、买卖，在境内证券交易所上市交易。
Domestically listed foreign-invested shares issued by a company shall be in the form of registered shares, with the face value denominated in Renminbi, subscribed and traded in foreign currency, and listed and traded on a domestic stock exchange.
发行境内上市外资股的公司向境内投资人发行的股份(以下简称内资股)，采取记名股票形式。
Shares issued by a company issuing domestically listed foreign-invested shares to domestic investors (hereinafter referred to as "domestic shares") shall be in the form of registered shares.
境内上市外资股投资人限于：
Investors in domestically listed foreign-invested shares are limited to:
(一)外国的自然人、法人和其他组织；
(1) Foreign natural persons, legal persons, and other organizations;
(二)中国香港、澳门、台湾地区的自然人、法人和其他组织；
(2) Natural persons, legal persons, and other organizations from Hong Kong, Macao, and Taiwan regions of China;
(三)定居在国外的中国公民；
(3) Chinese citizens residing abroad;
(四)国务院证券委员会规定的境内上市外资股其他投资人。
(4) Other investors in domestically listed foreign-invested shares as specified by the Securities Committee of the State Council.
境内上市外资股投资人认购、买卖境内上市外资股，应当提供证明其投资人身份和资格的有效文件。
Investors in domestically listed foreign-invested shares shall, when subscribing for or trading domestically listed foreign-invested shares, provide valid documents evidencing their identity and eligibility as investors.
持有同一种类股份的境内上市外资股股东与内资股股东，依照《公司法》享有同等权利和履行同等义务。
Shareholders of domestically listed foreign-invested shares and shareholders of domestic shares holding the same class of shares shall enjoy equal rights and perform equal obligations in accordance with the Company Law.
公司可以在其公司章程中对股东行使权利和履行义务的特殊事宜，作出具体规定。
A company may, in its articles of association, make specific provisions on special matters concerning the exercise of rights and performance of obligations by shareholders.
公司章程对公司及其股东、董事、监事、经理和其他高级管理人员具有约束力。
The articles of association of a company are binding on the company and its shareholders, directors, supervisors, managers, and other senior management personnel.
公司的董事、监事、经理和其他高级管理人员对公司负有诚信和勤勉的义务。
Directors, supervisors, managers, and other senior management personnel of a company owe duties of good faith and diligence to the company.
本条第一款、第二款所称其他高级管理人员包括公司财务负责人、董事会秘书和公司章程规定的其他人员。
The term "other senior management personnel" as used in the first and second paragraphs of this Article includes the person in charge of financial affairs of the company, the secretary of the board of directors, and other persons as specified in the articles of association of the company.
国务院证券委员会及其监督管理执行机构中国证券监督管理委员会(以下简称中国证监会)，依照法律、行政法规的规定，对境内上市外资股的发行、交易及相关活动实施管理和监督。
The Securities Committee of the State Council and its supervisory and regulatory enforcement body, the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), shall, in accordance with laws and administrative regulations, exercise supervision and administration over the issuance, trading, and related activities of domestically listed foreign-invested shares.
以募集方式设立公司，申请发行境内上市外资股的，应当符合下列条件：
To establish a company by means of share offer and apply for the issuance of domestically listed foreign-invested shares, the following conditions shall be met:
(一)所筹资金用途符合国家产业政策；
(1) The use of the funds raised conforms to the national industrial policies;
(二)符合国家有关固定资产投资立项的规定；
(2) It conforms to the provisions of the State on the establishment of fixed asset investment projects;
(三)符合国家有关利用外资的规定；
(3) It conforms to the provisions of the State on the utilization of foreign capital;
(四)发起人认购的股本总额不少于公司拟发行股本总额的35%；
(4) The total share capital subscribed by the promoters is not less than 35% of the total share capital to be issued by the company;
(五)发起人出资总额不少于1.5亿元人民币；
(5) The total amount of capital contributed by the promoters is not less than RMB 150 million yuan;
(六)拟向社会发行的股份达公司股份总数的25%以上；拟发行的股本总额超过4亿元人民币的，其拟向社会发行股份的比例达15%以上；
(6) The shares to be issued to the public shall account for more than 25% of the total shares of the company; if the total share capital to be issued exceeds RMB 400 million, the proportion of shares to be issued to the public shall be more than 15%;
(七)改组设立公司的原有企业或者作为公司主要发起人的国有企业，在最近3年内没有重大违法行为；
(7) The original enterprise that is restructured to form the company or the state-owned enterprise that serves as the main promoter of the company has no major illegal acts in the most recent three years;
(八)改组设立公司的原有企业或者作为公司主要发起人的国有企业，最近3年连续盈利；
(8) The original enterprise that is restructured to form the company or the state-owned enterprise that serves as the main promoter of the company has been continuously profitable for the most recent three years;
(九)国务院证券委员会规定的其他条件。
(9) Other conditions prescribed by the Securities Committee of the State Council.
公司增加资本，申请发行境内上市外资股的，除应当符合本规定第八条第(一)、(二)、(三)项的规定外，还应当符合下列条件：
Where a company increases its capital and applies to issue domestically listed foreign-invested shares, in addition to complying with the provisions of Article 8, items (1), (2), and (3) of these Provisions, it shall also meet the following conditions:
(一)公司前一次发行的股份已经募足，所得资金的用途与募股时确定的用途相符，并且资金使用效益良好；
(1) The shares issued in the previous issuance have been fully subscribed, the use of the funds raised is consistent with the purpose determined at the time of the share offering, and the fund utilization efficiency is good;
(二)公司净资产总值不低于1.5亿元人民币；
(2) The total net assets of the company are not less than RMB 150 million;
(三)公司从前一次发行股票到本次申请期间没有重大违法行为；
(3) The company has no major illegal acts from the previous share issuance to the current application;
(四)公司最近3年连续盈利；原有企业改组或者国有企业作为主要发起人设立的公司，可以连续计算；
(4) The company has been continuously profitable for the most recent three years; for a company established through the restructuring of an original enterprise or with a state-owned enterprise as the main promoter, the profitability period may be calculated continuously;
(五)国务院证券委员会规定的其他条件。
(5) Other conditions prescribed by the Securities Committee of the State Council.
以发起方式设立的公司首次增加资本，申请发行境内上市外资股的，还应当符合本规定第八条第(六)项的规定。
Where a company established by way of promotion increases its capital for the first time and applies to issue domestically listed foreign-invested shares, it shall also comply with the provisions of Article 8, item (6) of these Provisions.
申请发行境内上市外资股，按照下列程序办理：
The application for issuing domestically listed foreign-invested shares shall be handled in accordance with the following procedures:
(一)发起人或者公司向省、自治区、直辖市人民政府或者国务院有关企业主管部门提出申请，由省、自治区、直辖市人民政府或者国务院有关企业主管部门向国务院证券委员会推荐；
(1) The promoter or the company submits an application to the people's government of the province, autonomous region, or municipality directly under the Central Government, or to the relevant enterprise competent department of the State Council, and the people's government of the province, autonomous region, or municipality directly under the Central Government, or the relevant enterprise competent department of the State Council recommends it to the Securities Committee of the State Council;
(二)国务院证券委员会会商国务院有关部门选定可以发行境内上市外资股的公司；
(2) The Securities Committee of the State Council, in consultation with the relevant departments of the State Council, selects the company that may issue domestically listed foreign-invested shares;
(三)被选定的公司将本规定第十一条、第十二条所列文件提交中国证监会审核；
(3) The selected company submits the documents listed in Articles 11 and 12 of these Provisions to the China Securities Regulatory Commission (CSRC) for review;
(四)经中国证监会审核符合条件的，报经国务院证券委员会批准或者依照本规定第二条第一款的规定经国务院批准后，公司方可发行境内上市外资股。
(4) After the CSRC verifies that the conditions are met, the matter is reported to the Securities Committee of the State Council for approval, or, in accordance with the provisions of Article 2, paragraph 1 of these Provisions, to the State Council for approval, before the company may issue domestically listed foreign-invested shares.
以募集方式设立公司，申请发行境内上市外资股的，应当向中国证监会报送下列文件：
Where a company is established by way of public offering and applies to issue domestically listed foreign-invested shares, it shall submit the following documents to the CSRC:
(一)申请报告；
(1) Application report;
(二)发起人姓名或者名称，发起人认购的股份数、出资种类及验资证明；
(2) Names of the promoters, the number of shares subscribed by the promoters, the types of capital contributions, and the capital verification certificate;
(三)发起人会议同意公开发行境内上市外资股的决议；
(3) Resolution of the promoters' meeting approving the public issuance of domestically listed foreign-invested shares;
(四)国务院授权的部门或者省、自治区、直辖市人民政府批准设立公司的文件；
(4) Document approving the establishment of the company issued by the department authorized by the State Council or the people's government of the province, autonomous region, or municipality directly under the Central Government;
(五)省、自治区、直辖市人民政府或者国务院有关企业主管部门的推荐文件；
(5) Recommendation document from the people's government of the province, autonomous region, or municipality directly under the Central Government, or from the relevant enterprise competent department of the State Council;
(六)公司登记机关颁发的《企业名称预先核准通知书》；
(6) Notice of Pre-approval of Enterprise Name issued by the company registration authority;
(七)公司章程草案；
(7) Draft of the company's articles of association;
(八)招股说明书；
(8) Prospectus;
(九)资金运用的可行性报告；所筹资金用于固定资产投资项目需要立项审批的，还应当提供有关部门同意固定资产投资立项的批准文件；
(9) Feasibility report on the use of funds; if the funds raised are to be used for fixed asset investment projects requiring project approval, the approval document from the relevant department for the fixed asset investment project shall also be provided;
(十)经注册会计师及其所在事务所审计的原有企业或者作为公司主要发起人的国有企业最近3年的财务报告和有2名以上注册会计师及其所在事务所签字、盖章的审计报告；
(10) Financial reports of the original enterprise or the state-owned enterprise acting as the main promoter of the company for the most recent three years, audited by certified public accountants and their firm, and an audit report signed and sealed by two or more certified public accountants and their firm;
(十一)经2名以上专业评估人员及其所在机构签字、盖章的资产评估报告；涉及国有资产的，还应当提供国有资产管理部门出具的确认文件及国有股权的批准文件；
(11) Asset appraisal report signed and sealed by two or more professional appraisers and their institution; if state-owned assets are involved, the confirmation document issued by the state-owned assets management department and the approval document for state-owned equity shall also be provided;
(十二)经2名以上律师及其所在事务所就有关事项签字、盖章的法律意见书；
(12) Legal opinion signed and sealed by two or more lawyers and their law firm on relevant matters;
(十三)股票发行承销方案和承销协议；
(13) Stock issuance underwriting plan and underwriting agreement;
(十四)中国证监会要求提供的其他文件。
(14) Other documents required by the China Securities Regulatory Commission.
公司增加资本，申请发行境内上市外资股的，应当向中国证监会报送下列文件：
When a company increases its capital and applies for the issuance of domestically listed foreign-invested shares, it shall submit the following documents to the China Securities Regulatory Commission:
(一)申请报告；
(1) Application report;
(二)股东大会同意公开发行境内上市外资股的决议；
(2) Resolution of the shareholders' meeting agreeing to the public issuance of domestically listed foreign-invested shares;
(三)国务院授权的部门或者省、自治区、直辖市人民政府同意增资发行新股的文件；
(3) Document from the department authorized by the State Council or the people's government of the province, autonomous region, or municipality directly under the Central Government agreeing to the capital increase and issuance of new shares;
(四)省、自治区、直辖市人民政府或者国务院有关企业主管部门的推荐文件；
(4) Recommendation document from the people's government of the province, autonomous region, or municipality directly under the Central Government or the relevant enterprise competent department of the State Council;
(五)公司登记机关颁发的公司营业执照；
(5) Business license of the company issued by the company registration authority;
(六)公司章程；
(6) Articles of association of the company;
(七)招股说明书；
(7) Prospectus;
(八)资金运用的可行性报告；所筹资金用于固定资产投资项目需要立项审批的，还应当提供有关部门同意固定资产投资立项的批准文件；
(8) Feasibility report on the use of funds; if the funds raised are to be used for fixed asset investment projects requiring project approval, the approval document from the relevant department for the fixed asset investment project shall also be provided;
(九)经注册会计师及其所在事务所审计的公司最近3年的财务报告和有2名以上注册会计师及其所在事务所签字、盖章的审计报告；
(9) Financial reports of the company for the most recent three years, audited by certified public accountants and their firm, and an audit report signed and sealed by two or more certified public accountants and their firm;
(十)经2名以上律师及其所在事务所就有关事项签字、盖章的法律意见书；
(10) Legal opinion signed and sealed by two or more lawyers and their law firm on relevant matters;
(十一)股票发行承销方案和承销协议；
(11) Stock issuance underwriting plan and underwriting agreement;
(十二)中国证监会要求提供的其他文件。
(12) Other documents required by the China Securities Regulatory Commission.
公司发行境内上市外资股与发行内资股的间隔时间可以少于12个月。
The interval between a company's issuance of domestically listed foreign-invested shares and its issuance of domestic shares may be less than 12 months.
公司应当聘用符合国家规定的注册会计师及其所在事务所，对其财务报告进行审计或者复核。
A company shall engage certified public accountants and their firm that meet the national requirements to audit or review its financial reports.
公司应当按照国家有关规定进行会计核算和编制财务报告。
A company shall conduct accounting and prepare financial reports in accordance with relevant national regulations.
公司向境内上市外资股投资人披露的财务报告，按照其他国家或者地区的会计准则进行相应调整的，应当对有关差异作出说明。
If the financial reports disclosed by the company to investors of domestically listed foreign-invested shares are adjusted in accordance with the accounting standards of other countries or regions, explanations of the relevant differences shall be provided.
发行境内上市外资股的公司应当依法向社会公众披露信息，并在其公司章程中对信息披露的地点、方式等事宜作出具体规定。
A company issuing domestically listed foreign-invested shares shall disclose information to the public in accordance with the law, and shall specify in its articles of association the location, method, and other matters of information disclosure.
发行境内上市外资股的公司的信息披露文件，以中文制作；需要提供外文译本的，应当提供一种通用的外国语言文本。中文文本、外文文本发生歧义时，以中文文本为准。
The information disclosure documents of a company issuing domestically listed foreign-invested shares shall be prepared in Chinese; if a foreign language translation is required, one commonly used foreign language text shall be provided. In case of any discrepancy between the Chinese text and the foreign language text, the Chinese text shall prevail.
公司发行境内上市外资股，应当委托中国人民银行依法批准设立并经中国证监会认可的境内证券经营机构作为主承销商或者主承销商之一。
A company issuing B shares shall entrust a domestic securities institution that has been lawfully established with the approval of the People's Bank of China and recognized by the China Securities Regulatory Commission as the lead underwriter or one of the lead underwriters.
发行境内上市外资股的公司，应当在具有经营外汇业务资格的境内银行开立外汇帐户。公司开立外汇帐户应当按照国家有关外汇管理的规定办理。
A company issuing B shares shall open a foreign exchange account with a domestic bank qualified to engage in foreign exchange business. The company shall handle the opening of the foreign exchange account in accordance with the relevant state regulations on foreign exchange administration.
承销境内上市外资股的主承销商应当在承销协议约定的期限内，将所筹款项划入发行境内上市外资股的公司的外汇帐户。
The lead underwriter of B shares shall, within the period stipulated in the underwriting agreement, transfer the raised funds into the foreign exchange account of the company issuing B shares.
境内上市外资股股票的代理买卖业务，应当由中国人民银行依法批准设立并经中国证监会认可的证券经营机构办理。
The agency trading business of B shares shall be handled by a securities institution that has been lawfully established with the approval of the People's Bank of China and recognized by the China Securities Regulatory Commission.
境内上市外资股股东可以委托代理人代为行使其股东权利；代理人代行股东权利时，应当提供证明其代理资格的有效文件。
A holder of B shares may appoint a proxy to exercise the shareholder's rights on their behalf; when the proxy exercises the shareholder's rights, they shall provide valid documents proving their proxy qualification.
境内上市外资股的权益拥有人，可以将其股份登记在名义持有人名下。
The beneficial owner of B shares may register the shares in the name of a nominee.
境内上市外资股的权益拥有人应当依法披露其持股变动信息。
The beneficial owner of B shares shall disclose information on changes in their shareholding in accordance with the law.
境内上市外资股的交易、保管、清算交割、过户和登记，应当遵守法律、行政法规以及国务院证券委员会的有关规定。
The trading, custody, clearing, settlement, transfer, and registration of B shares shall comply with the relevant provisions of laws, administrative regulations, and the State Council Securities Commission.
经国务院证券委员会批准，境内上市外资股或者其派生形式可以在境外流通转让。
With the approval of the State Council Securities Commission, B shares or their derivative forms may be circulated and transferred overseas.
前款所称派生形式，是指股票的认股权凭证和境外存股凭证。
The derivative forms referred to in the preceding paragraph refer to share warrant certificates and overseas depositary receipts.
公司向境内上市外资股股东支付股利及其他款项，以人民币计价和宣布，以外币支付。公司所筹集的外币资本金的管理和公司支付股利及其他款项所需的外币，按照国家有关外汇管理的规定办理。
Dividends and other payments made by a company to holders of B shares shall be denominated and declared in Renminbi and paid in foreign currency. The management of the foreign currency capital raised by the company and the foreign currency required for the company to pay dividends and other payments shall be handled in accordance with the relevant state regulations on foreign exchange administration.
公司章程规定由其他机构代为兑换外币并付给股东的，可以按照公司章程的规定办理。
If the company's articles of association stipulate that another institution shall convert foreign currency and pay shareholders on behalf of the company, it may be handled in accordance with the provisions of the articles of association.
境内上市外资股的股利和其他收益依法纳税后，可以汇出境外。
Dividends and other income from B shares may be remitted abroad after tax payment in accordance with the law.
国务院证券委员会可以根据本规定制定实施细则。
The State Council Securities Commission may formulate implementing rules in accordance with these Provisions.
本规定自发布之日起施行。中国人民银行、上海市人民政府1991年11月22日发布的《上海市人民币特种股票管理办法》，中国人民银行、深圳市人民政府1991年12月5日发布的《深圳市人民币特种股票管理暂行办法》同时废止。
These Provisions shall come into force as of the date of promulgation. The Shanghai Municipality Renminbi Special Shares Measures issued by the People's Bank of China and the Shanghai Municipal People's Government on November 22, 1991, and the Shenzhen Municipality Renminbi Special Shares Interim Measures issued by the People's Bank of China and the Shenzhen Municipal People's Government on December 5, 1991, shall be simultaneously abolished.