Chapter II Application and Establishment
Article 5 A foreign stock exchange applying for establishment of a representative office (hereinafter referred to as the applicant) shall be subject to the requirements as follows:
(1) The country or region where the applicant is located has perfect laws and regulations on financial supervision;
(2) The financial supervision authority in the country or region where the applicant is located has concluded a memorandum of understanding on supervisory cooperation with the CSRC, and keeps good cooperation with the CSRC;
(3) The applicant is a financial institution established under the approval or ratification of the financial supervision authority of the country or region where it is located;
(4) The applicant has been established for more than 20 years, it has stable and standardized operation and its financial situation is well; and
(5) Other prudential conditions put forward by the CSRC.