China's securities regulator tightens delisting regulation
Release time:2024-05-01 00:06:21
BEIJING, April 12 (Xinhua) -- China's securities regulator on Friday released a guideline on strict 。
BEIJING, April 12 (Xinhua) -- China's securities regulator on Friday released a guideline on strict implementation of delisting regulation. The guideline, released by the China Securities Regulatory Commission, focuses on improving the overall quality of listed companies, clearing out "zombie shell" companies and "black sheep" stocks, and reducing the value of "shell" resources through stricter delisting regulation, expanding diverse exit channels and strengthening investor protection. Specifically, the guideline demands adopting stricter standards for compulsory delisting, forcing companies found guilty of serious falsification within a year or engaging in continuous falsification to delist. It also calls for a resolute crackdown on vicious and long-term systemic financial frauds. It requires improving policies and regulations in areas such as mergers and acquisitions, encouraging and guiding leading companies to integrate industrial chains based on their main businesses. The guideline also urged efforts to intensify delisting supervision, severely punish illegal activities such as financial fraud, insider trading and market manipulation, and optimize investor compensation remedy mechanisms. The commission released the aforementioned set of measures after China's State Council released a guideline on strengthening regulation, forestalling risks and promoting the high-quality development of the capital market. This is the third guideline document on the capital market from the State Council in two decades. The first two were issued in 2004 and 2014, respectively. The country should build a secure, regulated, transparent, open, dynamic and resilient capital market, the State Council guideline noted. The securities regulator has also started soliciting public opinions on six draft rules covering regulations on issuance, listed companies, securities companies and trading, starting on Friday.
(Editor:Liao Yifan)
Related articles
Songs of celebration hail anniversary
The Forbidden City Concert Hall has announced a series of programs to mark the 25th anniversary of t2024-05-01- (Xinhua) 09:30, March 20, 2024A press conference on leveraging Beijing's strategic role as the natio2024-05-01
TV series spotlights young love for older woman
By Xu Fan (Chinadaily.com.cn) 15:27, September 14, 2023Aligned with the development and progress of2024-05-01China's Mars rover detects irregular wedges beneath red planet
(Xinhua) 11:22, November 25, 2023Photo released on June 11, 2021 by the China National Space Adminis2024-05-01Scarred UNESCO World Heritage site Jiuzhaigou recovers after quake
This file photo taken in 2020 shows Pei Xiangjun and his team providing instructions on the usage of2024-05-01Chinese researchers uncover secrets behind adult fireflies' light organs
(Xinhua) 16:42, March 11, 2024BEIJING, March 11 (Xinhua) -- Chinese researchers have recently reveal2024-05-01
atest comment