Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
LATEST
Kai-Fu Lee Says AI Will Soon Reshape Corporate Reporting and Management
Flashy Robot Demos at WAIC Mask Struggles With Real-World Deployment
Kimi K3 Demand Surge Forces Moonshot AI to Pause Sign-Ups
Chinese AI Chip Startups Look Beyond the Cloud to Edge Devices
Biren Unveils 1,024-GPU Optical Super Node Architecture
As AI Agents Take Off, Integration Becomes an Obstacle
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
In Depth: China’s AI Boom Creates Demand for a New Kind of Engineer
China’s First AI Companion Rules to Curb Addiction, Protect Minors
China Clears Mobile AI Models, Paving Way for Apple Intelligence
Alibaba Leads $439 Million Funding Round for AI Video Startup AIsphere
Smartphone Shipments Slump as AI Demand Squeezes Memory Supply
StepFun Aims to Bring AI to the Masses With Smartphone
Chinese Robotics Startup Raises $200 Million
Tencent Expands AI Computing Capacity After Hy3 Demand Surge
Xiaomi Cuts Jobs Across Divisions as Earnings Come Under Pressure
Chinese AI Developer MiniMax Raises HK$16 Billion From Equity, Convertible Bond Sale
Tokopedia Downsizing Sparks Indonesian Government Concerns Over Mass Layoffs
AI Chipmaker Enflame Wins Approval for $883 Million STAR Market IPO
China Relaxes Asset Restructuring Rules for Listed Firms

By Quan Yue and Han Wei / Jun 21, 2019 04:20 AM / Finance

Photo: VCG

Photo: VCG

Chinese regulators are moving to relax restrictions on merger and acquisition deals involving listed companies in a bid to allow them to improve businesses through asset restructuring amid slowing economic growth.

The China Securities Regulatory Commission (CSRC) Thursday issued a draft revision of rules regarding listed companies’ asset restructuring to seek public comments until July 20. The revision scraps profitability requirements in merger and acquisition deals, ease fundraising curbs to support listed companies’ restructuring and encourage high-tech companies to restructure.

Analysts said the revision is aimed at rolling back stringent rules set in 2016 to contain market speculation through restructuring and back-door listings, which blocked some companies’ efforts to improve their asset quality through restructuring.

Under current economic conditions, some companies have been suffering operational difficulties and declining business and need to improve their asset quality through mergers and acquisitions, the CSRC said. “This will further improve the quality of listed companies and boost market vitality,” said the CSRC.

Related: Exchanges Take Aim at Firms Facing Delisting in Bid to Rein In ‘Backdoor Listings’

Share this article
Open WeChat and scan the QR code