1. LINE

      Text:AAAPrint
      Economy

      IPO freeze necessary to stem rout

      1
      2015-08-01 09:23China Daily Editor: Si Huan
      Pedestrians walk past the China Securities Regulatory Commission office in Beijing. (Provided to China Daily)

      Pedestrians walk past the China Securities Regulatory Commission office in Beijing. (Provided to China Daily)

      Direction of capital market reforms in China will not see any major changes, says regulator

      China's securities regulator said on Friday that the temporary halt in new share offerings is a necessary measure to stem the ongoing stock market rout and the direction of the long-term, market-driven reform of the country's capital market has not changed.

      The regulator dismissed market concerns that the recent swings may delay the much-anticipated launch of the registration-based scheme for initial public offerings.

      The new IPO system has been widely expected to be rolled out after the amendments of the country's Securities Law by the top legislature, which is to finish the last round of review in October.

      "The launch of the registration-based system is a significant step in the nation's capital market reform ... and it is a systematic and gradual process," Zhang Xiaojun, a spokesman for the China Securities Regulatory Commission, told a news conference in Beijing.

      China's equities market has suffered a second dip after witnessing a massive 30 percent sharp correction after mid-June and in July.

      Beijing's pledge to adopt a proactive fiscal policy and maintain a prudent monetary policy to stimulate the economy failed to cheer the weak investor sentiment on Friday.

      The benchmark Shanghai Composite Index fell 1.13 percent to close at 3,663.73 points, capping the worst monthly decline in six years. Market turnover shrank as volatility surged, indicating investor sentiment has not fully recovered to the level before the market peaked in mid-June.

      The regulator has adopted a series of unprecedented measures to lift the market, including prohibiting major shareholders of listed companies from selling shares, suspending IPOs and investigating short sales that may involve possible market manipulation.

      The Shanghai and Shenzhen stock exchanges have imposed curbs on more than 20 stock accounts by institutional investors for possible trading irregularities.

      Reuters also reported that the Chinese regulator had asked financial institutions in Hong Kong for stock trading records in order to identify investors who had taken net short positions against the mainland stock market.

      But Zhang denied the report and said that the regulator has not been in contact with financial institutions in Hong Kong.

      The regulator vowed on Friday to step up the crackdown on illegal selling of shares by major shareholders and to enhance punishment for malpractices in information disclosure. The regulator has investigated 52 cases and adopted 77 administrative measures against companies that violated the regulation, according to Zhang.

      Current Chinese securities regulation forbids shareholders owning more than 5 percent stake of a listed company from selling their shares within six months of their purchase.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 成人毛片18女人毛片免费96| 99久久免费中文字幕精品| 午夜高清免费在线观看| 亚洲男人天堂2018av| 成年女人毛片免费播放人| 456亚洲人成影院在线观| 成年女人免费视频播放77777| 亚洲a视频在线观看| 久久久久久国产精品免费免费| 你好老叔电影观看免费| 国产美女亚洲精品久久久综合| 黄色视屏在线免费播放| 亚洲gv白嫩小受在线观看| 久久免费观看国产99精品| 国产一级理论免费版| 羞羞的视频在线免费观看| 亚洲人成网站在线观看青青| 成人久久免费网站| 亚洲激情视频在线观看| 日本亚洲免费无线码| 亚洲第一第二第三第四第五第六| 国产精品久免费的黄网站| 少妇亚洲免费精品| 亚洲AV日韩AV永久无码下载| 欧洲一级毛片免费| 亚洲av日韩专区在线观看| 精品亚洲一区二区三区在线观看| 国产精品免费AV片在线观看| 亚洲不卡视频在线观看| 国产成人免费a在线资源| 中文字幕手机在线免费看电影| 久久久亚洲裙底偷窥综合| 蜜臀91精品国产免费观看| 一个人看的hd免费视频| 亚洲av日韩av不卡在线观看| 国产在线a免费观看| 国产成人无码精品久久久久免费| 亚洲精品高清国产一久久| 日本免费福利视频| 日韩免费在线观看视频| 最新亚洲春色Av无码专区|