Stock Exchanges Plan Tougher Delisting Rules
The Chinese mainland’s two stock exchanges are preparing to toughen regulations that could lead to more companies being delisted as part of a campaign to clean up the country’s equity markets.
The draft rules, published simultaneously by the Shanghai and Shenzhen stock exchanges, come as legislators at the annual session of the National People’s Congress call for harsher punishment for fraud in the securities market. They also follow an announcement by the China Securities Regulatory Commission (CSRC) that it is revising its delisting rules and will delegate responsibility for drafting and implementing specific new regulations to the bourses.
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