Legal basis: Measures for the Administration of Acquisition of Listed Companies
Article 3 The acquisition of listed companies and the changes of relevant shares' rights and interests must follow the principles of openness, fairness and impartiality. The information disclosure obligor in the acquisition of a listed company and the change of relevant shares' rights and interests shall fully disclose their rights and interests in the listed company and their changes, and perform legal obligations such as reports and announcements in strict accordance with the law. Before the relevant information is made public, it is obliged to keep it confidential. The information reported and announced by the information disclosure obligor must be true, accurate and complete, and there shall be no false records, misleading statements or major omissions.
Article 4 The acquisition of listed companies and the changes in the rights and interests of related shares shall not endanger national security and social public interests. The acquisition of listed companies and related changes in share rights and interests involve national industrial policies, industry access, transfer of state-owned shares and other matters. If it is necessary to obtain the approval of the relevant state departments, it shall be carried out after obtaining the approval. Foreign investors engaged in the acquisition of listed companies and related changes in share rights and interests shall obtain the approval of relevant state departments, apply the laws of China, and submit to the judicial and arbitration jurisdiction of China.