Improving the Legal Framework for Securities and Futures Markets (ADB-48008-001)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 10, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of the People's Republic of China, Legislative Affairs Commission
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 13, 2020

Disclosed by Bank Mar 28, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to ADB website, the TA will provide inputs to support the review of the draft of the revised Securities' Law and also the draft of a new Futures' Law. These inputs will be used in the legislative process to prepare for the first and subsequent readings of the laws by the Standing Committee of the NPC. Work on Securities' and Futures' Laws has already been listed on the 5-year lawmaking plan of the Standing Committee of the 12th NPC. The TA directly supports the process to enable up-to-date and complete legislation to facilitate development of the financial system. The TA builds on prior ADB work on legislation that includes ADB's Law and Policy Reform program in the PRC from 1993 to 2003 that facilitated the development of commercial and economic laws. The work resulted in adoption of the first Securities Law, Trust Law, Company Law (amendment), Bankruptcy Law, and legal adjustment relating to antidumping, countervailing duties, safeguards, import and export of goods, Foreign Trade Law, and cross-border merger and acquisition, upon accession to the World Trade Organization. The TA is also related to the existing TA, Developing a Legal System for the Credit Market and to the closed TA on Capacity Building of the Capital Markets' Regulatory System.

Safeguard categorization is not applicable for this project based on bank's documents.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Officer: Giannetto, Giacomo G.
East Asia Department
No contact information provided at the time of disclosure.

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

How it works

How it works