（PCPA注：非官方译本。当产生歧意时,应以法律中文原文为准。This English document is not an official translation．In case of discrepancy, the original Chinese version shall prevail.）

Measures for the Administration of Initial Public Offering and Listing of Stocks

China Securities Regulatory Commission　　Order of China Securities Regulatory Commission No. 32　　May 17, 2006

The Measures for the Administration of Initial Public Offering and Listing of Stocks, which were adopted at the 180th president's meeting of China Securities Regulatory Commission (hereinafter referred to as the CSRC) on May 17, 2006, are hereby promulgated and shall come into force as of May 18, 2006.

Measures for the Administration of Initial Public Offering and Listing of Stocks

Chapter I　General Provisions

Article 1　The present Measures are formulated according to the Securities Law and the Company Law for the purpose of regulating the initial public offering (hereinafter referred to as the IPO) and listing of stocks and protecting the legitimate rights and interest of investors as well as the social and public interests.

Article