China's newly-implemented offshore listing rules for domestic firms, as part of a regulatory clampdown on cross-border listings, are causing uncertainty and apprehension among bankers and lawyers involved in these listings, according to Asia's largest financial lobby group, Asifma. The rules require professionals to pledge “truthfulness, accuracy, completeness” of their work to China's securities regulator within three days of an overseas listing, a move causing “a lot of nervousness”, said Lyndon Chao, Managing Director of Asifma’s equities and post-trade division. Chao expressed concern over the new rules’ potential to conflict with requirements by offshore authorities, including New York and Hong Kong, the leading venues for Chinese companies seeking to raise capital via equity offerings. He argued the rules could harm China and its firms seeking global capital.