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.

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