Undertook a major project in China to advise the China Securities Regulatory Commission on: the steps necessary to achieve an integrated national market both from the trading and clearing/settlement aspects; the methods for rationalising the multiplicity of share types; capacity building for the regulatory and self regulatory organisations; developing a mutual fund industry. Advisers to multilateral agency as part of a team reporting on the regulation of markets in China.

Advisers to multilateral agency as part of a team which reviewed and commented on the draft Securities Law and securities regulations in China for the China Securities Regulatory Commission.

Advised on the A share new issuing procedures following the riots in Shenzhen.

Further review of the draft national securities legislation in comparison with the legislation of other markets and, where necessary, the drafting of new sections for the proposed national securities legislation, and the collation and provision of appropriate reference materials.

Review of the design and operation of the existing trading system, the design of a new national trading system based on a satellite communication network and the preparation of the functional specification for the system: a pilot programme, NETS, went into live operation in 1993.

The design of a national clearing and depository system.

Assistance and advice to the People's Bank of China on sourcing, evaluating and negotiating the supply of the systems necessary for establishing a national securities trading network. This assignment involved the preparation of a Request for Proposals to potential suppliers.

Designed a securities accreditation scheme for China. With the UK Securities Institute who worked for us on this assignment, we had a long relationship with the CSRC and helped run a "train the trainer" course in Shanghai.