business

China’s securities regulator seeks to improve quality of listed firms

BEIJING, Dec. 11 (Xinhua) — China’s top securities watchdog launched a two-year campaign to enhance the corporate governance of listed firms on Friday, eyeing better governance structures and high-quality development of listed firms.

A key element of the campaign is self-examination and correction on the part of listed firms, requiring them to engage in rectification and reform, and effectively improving the system and rules of corporate governance, the China Securities Regulatory Commission (CSRC) said.

In response to the recent suspension of the initial public offering (IPO) registration of some enterprises, the CSRC said the decisions were made by the stock exchanges in accordance with laws and regulations, and there was no deliberate tightening of the IPO.

Supervision of the exit mechanism for listed companies will be strengthened, while the criteria for delisting will be fine-tuned, with the relevant procedures streamlined, said the CSRC.

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