中國證券法(中英文)

1、中華人民共和國證券法the securities law of the people's republic of china來源：中國雷網(wǎng)-cnlei.com（1998年12月29日第九屆全國人民代表大會(huì)常務(wù)委員會(huì)第六次會(huì)議通過）(adopted by the sixth session of the ninth national people's congress npc standing committee on 29 december 1998)第一章總則chapter i general provisions第一條為了規(guī)范證券發(fā)行和交易行為，保護(hù)投資者的合法權(quán)益，維護(hù)社

2、會(huì)經(jīng)濟(jì)秩序和社會(huì)公共利益，促進(jìn)社會(huì)主義市場經(jīng)濟(jì)的發(fā)展，制定本法。article i. the formulation of this law aims to regulate stock issuance and transactions, to protect investors' legitimate rights and interests, to safeguard economic order and public interests of the society, and to enhance the development of the socialist market

3、economy.第二條在中國境內(nèi)，股票、公司債券和國務(wù)院依法認(rèn)定的其他證券的發(fā)行和交易，適用本法。本法未規(guī)定的，適用公司法和其他法律、行政法規(guī)的規(guī)定。article 2. this law will be applicable to the issuance and transactions of shares, company bonds, and other securities designated by the state council according to law within china's territory. situations that are stipula

4、ted in this law will be covered by the provisions of the company law, other laws, and administrative rules and regulations.政府債券的發(fā)行和交易，由法律、行政法規(guī)另行規(guī)定。the issuance and transactions of government treasury bonds will be governed separately by the provisions of other laws and administrative rules and regul

5、ations.第三條證券的發(fā)行、交易活動(dòng)，必須實(shí)行公開、公平、公正的原則。article 3. when issuing and dealing in securities, all concerned must abide by the principles of openness and fairness.第四條證券發(fā)行、交易活動(dòng)的當(dāng)事人具有平等的法律地位，應(yīng)當(dāng)遵守自愿、有償、誠實(shí)信用的原則。article 4. all participants involved in issuing and dealing in securities enjoy equal legal status,

6、and shall abide by the principles that their acts will be voluntary, reimbursable, honest, and trustworthy.第五條證券發(fā)行、交易活動(dòng)，必須遵守法律、行政法規(guī)；禁止欺詐、內(nèi)幕交易和操縱證券交易市場的行為。article 5. when issuing and dealing in securities, all concerned must abide by laws and administrative rules and regulations. cheating, insider tr

7、ading, and manipulation of stock markets are prohibited.第六條證券業(yè)和銀行業(yè)、信托業(yè)、保險(xiǎn)業(yè)分業(yè)經(jīng)營、分業(yè)管理。證券公司與銀行、信托、保險(xiǎn)業(yè)務(wù)機(jī)構(gòu)分別設(shè)立。article 6. stock firms, banks, trust firms, and insurance agencies shall operate separately and be administered separately. stock firms, banks, trust firms, and insurance agencies shall be estab

8、lished separately.第七條國務(wù)院證券監(jiān)督管理機(jī)構(gòu)依法對(duì)全國證券市場實(shí)行集中統(tǒng)一監(jiān)督管理。article 7. according to law, the securities regulatory body under the state council shall centralize and unify the supervision and administration of all stock markets in china.國務(wù)院證券監(jiān)督管理機(jī)構(gòu)根據(jù)需要可以設(shè)立派出機(jī)構(gòu)，按照授權(quán)履行監(jiān)督管理職責(zé)。if necessary, the securities regula

9、tory body under the state council may set up branches that will execute supervisory and administrative functions according to authorization.第八條在國家對(duì)證券發(fā)行、交易活動(dòng)實(shí)行集中統(tǒng)一監(jiān)督管理的前提下，依法設(shè)立證券業(yè)協(xié)會(huì)，實(shí)行自律性管理。article 8. under the prerequisite that the state shall centralize and unify the supervision and administration

10、of the issuance and transactions of securities, stock brokers shall establish their own associations so as to exercise self?disciplining administration.第九條國家審計(jì)機(jī)關(guān)對(duì)證券交易所、證券公司、證券登記結(jié)算機(jī)構(gòu)、證券監(jiān)督管理機(jī)構(gòu)，依法進(jìn)行審計(jì)監(jiān)督。article 9. according to law, the state auditing organ shall supervise by auditing the accounts of st

11、ock exchanges, securities companies, securities registration and settlement organizations, and securities supervision and administration organizations.第二章證券發(fā)行chapter 11 stock issuance第十條公開發(fā)行證券，必須符合法律、行政法規(guī)規(guī)定的條件，并依法報(bào)經(jīng)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)或者國務(wù)院授權(quán)的部門核準(zhǔn)或者審批；未經(jīng)依法核準(zhǔn)或者審批，任何單位和個(gè)人不得向社會(huì)公開發(fā)行證券。article 10. before publicly

12、 issuing securities, one must fulfill the provisions of laws and administrative rules and regulations; report, according to law, to the securities regulatory body under the state council, or to a relevant department authorized by the state council; and attain its prior approval. without attaining pr

13、ior approval according to law, no unit or individual is allowed to openly issue securities to the public.第十一條公開發(fā)行股票，必須依照公司法規(guī)定的條件，報(bào)經(jīng)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)。發(fā)行人必須向國務(wù)院證券監(jiān)督管理機(jī)構(gòu)提交公司法規(guī)定的申請文件和國務(wù)院證券監(jiān)督管理機(jī)構(gòu)規(guī)定的有關(guān)文件。article 11. before publicly issuing shares, one must abide by the provisions of the company law, and repor

14、t to and attain prior approval from the securities regulatory body under the state council. the applicant?issuer must submit to the securities regulatory body under the state council, application documents as required by relevant provisions of the company law and other relevant documents as stipulat

15、ed by the securities regulatory body under the state council.發(fā)行公司債券，必須依照公司法規(guī)定的條件，報(bào)經(jīng)國務(wù)院授權(quán)的部門審批。發(fā)行人必須向國務(wù)院授權(quán)的部門提交公司法規(guī)定的申請文件和國務(wù)院授權(quán)的部門規(guī)定的有關(guān)文件。before issuing company bonds, one must abide by the provisions of the company law, and report to and attain prior approval from a relevant department authorized by

16、 the state council. the applicant?issuer must submit to the relevant department authorized by the state council, application documents as required by relevant provisions of the company law and other relevant documents as stipulated by the relevant department authorized by the state council.第十二條發(fā)行人依法

17、申請公開發(fā)行證券所提交的申請文件的格式、報(bào)送方式，由依法負(fù)責(zé)核準(zhǔn)或者審批的機(jī)構(gòu)或者部門規(guī)定。article 12. the organ or department legally in charge of examining and approving the application of an applicant?issuer who applies to publicly issue securities according to law shall decide the formats of application documents and the modes for submitti

18、ng them,第十三條發(fā)行人向國務(wù)院證券監(jiān)督管理機(jī)構(gòu)或者國務(wù)院授權(quán)的部門提交的證券發(fā)行申請文件，必須真實(shí)、準(zhǔn)確、完整。article 13. when submitting application documents to the securities regulatory body under the state council or to a relevant department authorized by the state council for the approval to issue securities, the applicant?issuer must furnish

19、truthful, accurate, and complete information.為證券發(fā)行出具有關(guān)文件的專業(yè)機(jī)構(gòu)和人員，必須嚴(yán)格履行法定職責(zé)，保證其所出具文件的真實(shí)性、準(zhǔn)確性和完整性。the special organizations and personnel in charge of issuing relevant documents for securities issuance must strictly execute their legal duties, and ensure that the documents issued by them are truthful

20、, accurate, and complete.第十四條國務(wù)院證券監(jiān)督管理機(jī)構(gòu)設(shè)發(fā)行審核委員會(huì)，依法審核股票發(fā)行申請。article 14. the securities regulatory body under the state council shall establish an issuance examination committee that will examine and approve, according to law, the applications for share issuance.發(fā)行審核委員會(huì)由國務(wù)院證券監(jiān)督管理機(jī)構(gòu)的專業(yè)人員和所聘請的該機(jī)構(gòu)外的有關(guān)專家

21、組成，以投票方式對(duì)股票發(fā)行申請進(jìn)行表決，提出審核意見。the issuance examination committee will consist of professionals from the securities regulatory body under the state council and outside experts hired by the securities regulatory body under the state council. they will decide by casting their votes on the applications for

22、 share issuance, and expressed views on their deliberations.發(fā)行審核委員會(huì)的具體組成辦法、組成人員任期、工作程序由國務(wù)院證券監(jiān)督管理機(jī)構(gòu)制訂，報(bào)國務(wù)院批準(zhǔn)。the securities regulatory body under the state council shall formulate the specific provisions for establishing the issuance examination committee, and the appointment periods and work procedu

23、res for its personnel, and submit them to the state council for its approval.第十五條國務(wù)院證券監(jiān)督管理機(jī)構(gòu)依照法定條件負(fù)責(zé)核準(zhǔn)股票發(fā)行申請。核準(zhǔn)程序應(yīng)當(dāng)公開，依法接受監(jiān)督。article 15. the securities regulatory body under the state council shall be responsible for approving stock issue applications in accordance with the law. the approval procedu

24、re shall be made public and subject to supervision in accordance with the law.參與核準(zhǔn)股票發(fā)行申請的人員，不得與發(fā)行申請單位有利害關(guān)系；不得接受發(fā)行申請單位的饋贈(zèng)；不得持有所核準(zhǔn)的發(fā)行申請的股票；不得私下與發(fā)行申請單位進(jìn)行接觸。personnel who are involved in approving stock issue applications shall not have any interests in units applying for the issue; shall not receive gi

25、fts from units applying for the issue; shall not hold stocks of the approve issue; and shall not have private contact with units applying for the stock issue.國務(wù)院授權(quán)的部門對(duì)公司債券發(fā)行申請的審批，參照前二款的規(guī)定執(zhí)行。the examination and approval of a company's application for bond issue by state council?authorized departm

26、ents shall be implemented in accordance with the stipulations of the previous two paragraphs.第十六條國務(wù)院證券監(jiān)督管理機(jī)構(gòu)或者國務(wù)院授權(quán)的部門應(yīng)當(dāng)自受理證券發(fā)行申請文件之日起三個(gè)月內(nèi)作出決定；不予核準(zhǔn)或者審批的，應(yīng)當(dāng)作出說明。article 16. the securities regulatory body under the state council or state council?authorized departments shall make a decision within thre

27、e months from the date of receipt of stock issue application papers. the organizations or departments shall give an explanation for applications that are not approved or examined.第十七條證券發(fā)行申請經(jīng)核準(zhǔn)或者經(jīng)審批，發(fā)行人應(yīng)當(dāng)依照法律、行政法規(guī)的規(guī)定，在證券公開發(fā)行前，公告公開發(fā)行募集文件，并將該文件置備于指定場所供公眾查閱。article 17. when a stock issue application is

28、examined and approved, the stock issuer shall, in accordance with the stipulations of laws and administrative rules and regulations, issue a public subscription notice before the public issue of the stock, and place the notice in designated places for the public to read.發(fā)行證券的信息依法公開前，任何知情人不得公開或者泄露該信息

29、。before making public the information on the stock issue in accordance with the law, any person who has information on the issue shall not disclose such information.發(fā)行人不得在公告公開發(fā)行募集文件之前發(fā)行證券。the issuer shall not issue stocks before issuing a public subscription notice.第十八條國務(wù)院證券監(jiān)督管理機(jī)構(gòu)或者國務(wù)院授權(quán)的部門對(duì)已作出的核準(zhǔn)或者

30、審批證券發(fā)行的決定，發(fā)現(xiàn)不符合法律、行政法規(guī)規(guī)定的，應(yīng)當(dāng)予以撤銷；尚未發(fā)行證券的，停止發(fā)行；已經(jīng)發(fā)行的，證券持有人可以按照發(fā)行價(jià)并加算銀行同期存款利息，要求發(fā)行人返還。article 18. when the securities regulatory body under the state council or state council?authorized departments discover that the approval or decision to examine and approve a stock issue is not in compliance with th

31、e stipulations of laws and administrative rules and regulations, they shall annul the approval and decision. the stock issue shall be canceled if the issue has not commenced. for stocks already issued, stockholders shall ask the issuer to reftmd the issue price and the interest calculated on the pri

32、ce, using the bank deposit interest rate for the corresponding period.第十九條股票依法發(fā)行后，發(fā)行人經(jīng)營與收益的變化，由發(fā)行人自行負(fù)責(zé)；由此變化引致的投資風(fēng)險(xiǎn)，由投資者自行負(fù)責(zé)。article 19. after the issue of stock in accordance with the laws, the issuer shall be responsible for changes in the operations and profits; and investors shall be responsible

33、for investment risks arising from these changes.第二十條上市公司發(fā)行新股，應(yīng)當(dāng)符合公司法有關(guān)發(fā)行新股的條件，可以向社會(huì)公開募集，也可以向原股東配售。article 20. when a listed company issues new stocks, it shall comply with the conditions required by the company law on new stock issue. it may sell the new stocks to the public or to existing stockhold

34、ers.上市公司對(duì)發(fā)行股票所募資金，必須按招股說明書所列資金用途使用。改變招股說明書所列資金用途，必須經(jīng)股東大會(huì)批準(zhǔn)。擅自改變用途而未作糾正的，或者未經(jīng)股東大會(huì)認(rèn)可的，不得發(fā)行新股。a listed company shall utilize the capital it procures from stock issue in accordance with the uses explained in the public issue subscription notice. changes in the listed capital uses in the stock issue expl

35、anations shall be approved by the general shareholders' meeting. a company shall not issue new stocks if it makes unauthorized changes in the use of capital which are not corrected or which are not approved by the shareholders' meeting.第二十一條證券公司應(yīng)當(dāng)依照法律、行政法規(guī)的規(guī)定承銷發(fā)行人向社會(huì)公開發(fā)行的證券。證券承銷業(yè)務(wù)采取代銷或者包銷方式。

36、article 21. a securities company shall, in accordance with the stipulations of laws and administrative rules and regulations, underwrite to sell the securities an issuer offers for public subscription. the underwriting business is operated on a commission or sole agency basis.證券代銷是指證券公司代發(fā)行人發(fā)售證券，在承銷期

37、結(jié)束時(shí)，將未售出的證券全部退還給發(fā)行人的承銷方式。commission underwriting refers to the method whereby a securities company undertakes to sell securities on behalf of the issuer and return all unsold securities to the issuer at the end of the underwriting period.證券包銷是指證券公司將發(fā)行人的證券按照協(xié)議全部購入或者在承銷期結(jié)束時(shí)將售后剩余證券全部自行購入的承銷方式。the sole

38、agency method of underwriting refers to the method whereby a securities company acquires all securities of the issuer in accordance with the agreement, or acquires all unsold securities after the publicoffer at the end of the underwriting period.第二十二條公開發(fā)行證券的發(fā)行人有權(quán)依法自主選擇承銷的證券公司。證券公司不得以不正當(dāng)競爭手段招攬證券承銷業(yè)務(wù)。

39、article 22. an issuer who publicly issues securities has the right to select an underwriting securities company. securities companies shall not procure the underwriting business with improper means of competition.第二十三條證券公司承銷證券，應(yīng)當(dāng)同發(fā)行人簽訂代銷或者包銷協(xié)議，載明下列事項(xiàng)：article 23. the following shall be included in th

40、e underwriting or sole agency agreement signed between a securities company and a stock issuer:（一）當(dāng)事人的名稱、住所及法定代表人姓名；(1) names, addresses, and legal representatives of the parties;（二）代銷、包銷證券的種類、數(shù)量、金額及發(fā)行價(jià)格；(2) types, quantity, monetary amount, and issue price of the stocks underwritten on the commissi

41、on and sole agency methods;（三）代銷、包銷的期限及起止日期；(3) the duration, including the commencement date and deadline of the securities underwriting on the commission and sole agency methods;（四）代銷、包銷的付款方式及日期；(4) the payment method and payment date for the securities underwriting on the commission and sole agen

42、cy methods;（五）代銷、包銷的費(fèi)用和結(jié)算辦法；(5) the fees and settlement method for the securities underwriting on the commission and sole agency methods;（六）違約責(zé)任；(6) liability for breach of contract.（七）國務(wù)院證券監(jiān)督管理機(jī)構(gòu)規(guī)定的其他事項(xiàng)。(7) other matters specified by the securities regulatory body under the state council.第二十四條證券公司承

43、銷證券，應(yīng)當(dāng)對(duì)公開發(fā)行募集文件的真實(shí)性、準(zhǔn)確性、完整性進(jìn)行核查；發(fā)現(xiàn)含有虛假記載、誤導(dǎo)性陳述或者重大遺漏的，不得進(jìn)行銷售活動(dòng)；已經(jīng)銷售的，必須立即停止銷售活動(dòng)，并采取糾正措施。article 24. a securities company shall verify the authenticity, correctness, and completeness of documents of the public stock issue it underwrites. it shall not proceed with the sale if false records, misreprese

44、ntations, or major omissions are discovered in the documents. it shall immediately stop the sale and take remedial measures on stocks it has sold.第二十五條向社會(huì)公開發(fā)行的證券票面總值超過人民幣五千萬元的，應(yīng)當(dāng)由承銷團(tuán)承銷。承銷團(tuán)應(yīng)當(dāng)由主承銷和參與承銷的證券公司組成。article 25. where the total face value of a public stock issue exceeds 50 million renminbi, t

45、he issue shall be underwritten by an underwriting syndicate, which shall include a principal underwriting securities company and other companies who participate as joint underwriters of the share issue.第二十六條證券的代銷、包銷期最長不得超過九十日。article 26. the maximum period for underwriting the stock issue on a commi

46、ssion or sole agency basis shall not exceed 90 days.證券公司在代銷、包銷期內(nèi)，對(duì)所代銷、包銷的證券應(yīng)當(dāng)保證先行出售給認(rèn)購人，證券公司不得為本公司事先預(yù)留所代銷的證券和預(yù)先購入并留存所包銷的證券。within the period for underwriting the stock issue on a commission or sole agency basis, the securities company shall guarantee to first sell the stocks to subscribers. the secu

47、rities company shall not reserve the stocks it underwrites to sell or make advance purchases of the stocks it solely underwrites.第二十七條證券公司包銷證券的，應(yīng)當(dāng)在包銷期滿后的十五日內(nèi)，將包銷情況報(bào)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)備案。article 27. where a securities company solely underwrites a stock issue, it shall report the stock sale to the securities

48、supervision and administration organizations for record within 15 days after the expiry of the period of solely underwriting.證券公司代銷證券的，應(yīng)當(dāng)在代銷期滿后的十五日內(nèi)，與發(fā)行人共同將證券代銷情況報(bào)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)備案。where a securities company underwrites stocks on a commission basis, it shall report the stock sale jointly with the issuer

49、 to the securities regulatory body under the state council for record within 15 days after the expiry of the period for underwriting the stock issue on a commission basis.第二十八條股票發(fā)行采取溢價(jià)發(fā)行的，其發(fā)行價(jià)格由發(fā)行人與承銷的證券公司協(xié)商確定，報(bào)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)。article 28 where a stock is issued at a premium, the issue price shall be d

50、iscussed and determined between the issuer and the underwriting securities company, and report to the securities regulatory body under the state council for approval.第二十九條境內(nèi)企業(yè)直接或者間接到境外發(fā)行證券或者將其證券在境外上市交易，必須經(jīng)國務(wù)院證券監(jiān)督管理機(jī)構(gòu)批準(zhǔn)。article 29 where a domestic enterprise directly or indirectly issues stocks abroa

51、d or lists its stocks for trading abroad, the enterprise shall obtain approval from the securities regulatory body under the state council.第三章證券交易chapter iii. stock transactions第一節(jié)一般規(guī)定section i. general rules第三十條證券交易當(dāng)事人依法買賣的證券，必須是依法發(fā)行并交付的證券。article 30. stocks traded by parties to a stock transaction

52、 shall be the stocks issued and paid for in accordance with the law.非依法發(fā)行的證券，不得買賣。stocks not issued in accordance with the law shall not be traded.第三十一條依法發(fā)行的股票、公司債券及其他證券，法律對(duì)其轉(zhuǎn)讓期限有限制性規(guī)定的，在限定的期限內(nèi)，不得買賣。article 31. stocks, company bonds, and other securities issued in accordance with the law shall be su

53、bject to restrictions stipulated by the law on the allotted times for transfer. they shall not be traded within the restricted allotted time periods.第三十二條經(jīng)依法核準(zhǔn)的上市交易的股票、公司債券及其他證券，應(yīng)當(dāng)在證券交易所掛牌交易。article 32. stocks, company bonds, and other securities approved for listing and trading in accordance with t

54、he law shall be listed for trading in stock exchanges.第三十三條證券在證券交易所掛牌交易，應(yīng)當(dāng)采用公開的集中競價(jià)交易方式。article 33. the method of open and centralized price bidding shall be adopted for trading of stocks in stock exchanges.證券交易的集中競價(jià)應(yīng)當(dāng)實(shí)行價(jià)格優(yōu)先、時(shí)間優(yōu)先的原則。the principle of price and time preference shall be practiced in ce

55、ntralized price bidding in stock trading.第三十四條證券交易當(dāng)事人買賣的證券可以采用紙面形式或者國務(wù)院證券監(jiān)督管理機(jī)構(gòu)規(guī)定的其他形式。article 34. stocks traded by parties to a stock transaction shall be in paper form or other forms specified by the securities regulatory body under the state council.第三十五條證券交易以現(xiàn)貨進(jìn)行交易。article 35. the spot transacti

56、on method shall be implemented in stock transactions.第三十六條證券公司不得從事向客戶融資或者融券的證券交易活動(dòng)。article 36. securities companies shall not engage in stock trading activities to raise capital or stocks from clients.第三十七條證券交易所、證券公司、證券登記結(jié)算機(jī)構(gòu)從業(yè)人員、證券監(jiān)督管理機(jī)構(gòu)工作人員和法律、行政法規(guī)禁止參與股票交易的其他人員，在任期或者法定限期內(nèi)，不得直接或者以化名、借他人名義持有、買賣股票，也不

57、得收受他人贈(zèng)送的股票。article 37 personnel working at stock exchanges, securities companies, and securities registration and settlement institutions; personnel working at securities supervision and administration organizations; and other personnel prohibited by laws and administrative rules and regulations fro

58、m participating in stock trading shall not hold stocks, trade in stocks, and receive stocks given by other people, directly under their names or under false names or other people's names during the term of their office or within the allotted time periods specified by the law.任何人在成為前款所列人員時(shí)，其原已持有的

59、股票，必須依法轉(zhuǎn)讓。when a person becomes one of the personnel listed in the preceding paragraph, he or she shall transfer his or her stocks in accordance with the law.第三十八條證券交易所、證券公司、證券登記結(jié)算機(jī)構(gòu)必須依法為客戶所開立的帳戶保密。article 38. stock exchanges, securities companies, and securities registration and settlement institutions shall keep their client accounts confidential in acc