日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

New rules boost global standing of A shares

By Zhou Lanxu | China Daily | Updated: 2021-01-12 07:19
Share
Share - WeChat
Investors check share prices at a securities firm in Nanjing, Jiangsu province. [Photo by Xing Qu/For China Daily]

International investors' trust in Chinese equities has been enhanced after tougher regulations took effect to weed out listed companies indulging in misconduct or with weak fundamentals, experts said.

"We welcome the new set of rules as it has raised costs of misreporting or committing financial fraud and will therefore improve corporate governance in the A-share market," said Lynda Zhou, chief investment officer for equities in China at Fidelity International, a global asset manager.

"This will help more A-share listed firms become qualified to be part of the investment universe of foreign investors," Zhou said.

The risk of forced delisting has increased considerably due to the new rules, serving as an effective deterrent to potential misconduct of listed companies, she said.

The new delisting regulations were released by the Shanghai and Shenzhen stock exchanges on Dec 31 and have since taken effect across the whole A-share market. The rules have shortened the delisting process and tightened the delisting criteria for financial indicators, trading, noncompliance and violation.

For instance, after the revisions, listed companies will be forced to delist if they indulge in misreporting for two consecutive years and the total fabricated revenue exceeds 500 million yuan ($77.4 million) and half of the total disclosed revenue for the period.

Companies that are seriously defective in information disclosure or in compliance and fail to rectify the flaws will also be delisted due to the new rules, in a bid to improve the governance and quality of listed companies.

The revised rules will also look to eliminate firms with limited operational abilities from the market by refining the financial-indicator delisting criteria and adding a delisting threshold based on market value.

Companies will be forced to delist if their closing market value falls below 300 million yuan for 20 consecutive trading days. Share prices of the more than 30 A-share companies with closing market value of less than 1 billion yuan as of Dec 31, which are liable to delisting under the new rules, dropped by an average 7.2 percent in the first four trading days of 2021, according to market tracker Wind Info.

"The latest rules are in keeping with China's multiyear market reforms that help buffer investors' confidence in the quality of onshore listed assets," said Han Tan, a market analyst at FXTM, a United Kingdom-based global trading platform.

Chinese equities will benefit further as more of these market reforms take hold, especially as many global investors are looking to ride on China's "stellar" economic recovery from the COVID-19 outbreak, he said.

China has made improving its delisting system one of its key financial reform tasks during the 14th Five-Year Plan period (2021-25).

Related efforts have been stepped up since 2019, with reformed delisting rules trialed on Shanghai's STAR Market and Shenzhen's ChiNext. The new delisting rules effective across the whole market came in after the two bourses solicited public opinion on draft revisions earlier in December.

From 2019 to 2020, 26 listed companies were forced to delist from the two bourses, more than double the number seen in the previous six years, said the China Securities Regulatory Commission, the top securities regulator.

The regulator will work to further strengthen delisting rules while improving the related investor protection mechanism, it said, aiming to crack down on companies that violate rules and minimize investors' losses.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 蜜桃精品导航 | 久久99热只有视精品6国产 | 在线成人av观看 | 三级a做爰大乳在线观看 | 好叼视频| 青青草国产成人久久91网 | 成人精品 | 久久精品国产99国产精品 | 精品视频在线观看 | 国产在线激情 | 污在线观看 | 国产福利不卡视频在免费播放 | 精品视频一区二区三区在线观看 | 狠狠综合久久久久综 | 日本不卡高清免费 | 色www精品视频在线观看 | 中文字幕亚洲欧美日韩在线不卡 | 精品亚洲成a人片在线观看 在线看片h站 | 精品一区二区久久久久久久网站 | 久久人人爽人人爽人人片va | 日韩欧美h| 日韩精品不卡 | 久草在线草a免费线看 | 成人黄色免费观看 | 亚洲 欧美 日韩 综合aⅴ视频 | 老色鬼a∨在线视频在线观看 | 日韩欧美在线视频播放 | 日本在线国产 | 激情五月六月婷婷 | 日韩在线免费视频 | 中文字幕免费在线观看视频 | 免费看黄色网页 | 久久婷婷影院 | 二区精品视频 | 国产免费观看视频 | 成人在线不卡 | 天天搞天天搞 | 美国av在线免费观看 | 免费观看一区二区 | 日日夜夜精品免费视频 | 成年人网站在线免费观看 |