On 28 December 2019, the 15th Meeting of the Standing Committee of the 13th National People's Congress adopted revisions to the Securities Law of the People's Republic of China (the "Securities Law 2019"), which will become effective on 1 March 2020. Since China first officially adopted the Securities Law of the People's Republic of China (the "Securities Law") in 1998, the Securities Law has undergone three amendments and two revisions over the past 20 years. The Securities Law 2019 is widely regarded as unfurling a new chapter for the comprehensive implementation of the securities issuance registration system, marking a significant step for China's capital markets on the road to marketization, rule of law, and internationalization.