Securities Law

Securities Law of the People’s Republic of China
中华人民共和国证券法

[Current Text: Chinese, English]

(Dec. 29, 1998, effective July 1, 1999; amended and effective Aug. 28, 2004; revised Oct. 27, 2005, effective Jan. 1, 2006; amended and effective June 29, 2013; amended and effective Aug. 31, 2014; revised Dec. 28, 2019, effective Mar. 1, 2020)

• Status: Revision passed
• Legislative Body (Vote): NPCSC (167–0–1)
• Principal Drafter & Submitter: NPC Financial & Economic Affairs Committee
• Legislative Plans
  • Five-year: 12^th NPCSC Category I; 13^th NPCSC Category I
  • Annual: 2014, 2015, 2016, 2017, 2018 (backup), 2019
• Legislative History & Text
  • NPCSC deliberation – round #4 (final): Dec. 23–28, 2019 (Current Text ⇧)
  • NPCSC deliberation – round #3: Apr. 20–23, 2019 (Chinese only) 💬
    • Public consultation: Apr. 26–May 25, 2019
  • NPCSC deliberation – round #2: Apr. 24–27, 2017 (text N/A)
  • NPCSC deliberation – round #1: Apr. 20–24, 2015 (unofficial Chinese only)
• Legislative Records [Gazette 2020(1): 4–45]
  • Explanation (Apr. 20, 2015)
  • Report on Status of Revision (Apr. 24, 2017)
  • Report on Status of Revision (Apr. 20, 2019)
  • Report on Results of Deliberation (Dec. 23, 2019)
  • Report on Suggestions for Revision (Dec. 27, 2019)
  • Presidential Order (Dec. 28, 2019)
• Press Conference: NPCSC General Office (Dec. 28, 2019)

NPC Observer Coverage

• NPCSC Abolishes “Custody & Education” Detention System, Revises Securities Law & Approves Community Corrections Law, Civil Litigation Reform Pilot (Dec. 30, 2019)
• NPCSC Session Watch: Securities Law Revision, Civil Code & Foreign Investment Law Implementation (Apr. 14, 2019)
• 27th Session Watch Pt. 1: NPCSC to Consider Securities Law Revision, Renew People’s Assessor System Reform (Apr. 11, 2017)

Last updated: November 16, 2025, 15:39 EST