On the evening of December 18, 2020, the 37th Corporate Legal Risk Forum organized by the Chinese Corporate Legal Risk Management and Research Center of Peking University was successfully held at 420, the Second Teaching Building. This forum specially invited Yang Weidong, Executive Vice President and President of Investment Banking Division of Minsheng Securities Co., Ltd. to give a lecture on the topic of “Discussion on Legal Issues of Initial Public Offerings in China”. The forum was presided over by Professor Jiang Daxing of Peking University Law School. Graduate students and PhD students from all majors of the Law School actively participated, and held heated discussions after the report.

At the beginning of the forum, Mr. Yang Weidong shared a few suggestions on future career planning to Peking University students very heartily and intimately, hoping that Peking University students can be more pragmatic and earnestly specialize in one field. Then he began his speech on the main content of this forum.

Mr. Yang Weidong made a historical review of the development of China’s capital market, taking the time axis as the logical context, from the implementation of the shareholding system reform in the mid-1980s to the latest “Securities Law” and the reform of the registration system. He sorted out the evolution of China’s IPO system, and made a wonderful speech on the main contents and problems of the system in the stages of approval system, channel system, sponsor system, registration system and the future development direction of China's capital market. He also deeply analyzed and discussed hot legal issues in China’s capital market, such as IPO review, issuance pricing, media supervision, delisting system, class action lawsuits, etc., and conducted in-depth discussions with students on relevant issues.

At the end of the forum, the Chinese Corporate Legal Risk Management and Research Center of Peking University presented a certificate of appreciation to Mr. Yang Weidong. Amid the applause of everyone, this forum ended successfully.

Translated by Sun Shenbing

Edited by Xu Mengyao