China Securities Regulatory Commission (CSRC) is drafting a regulation to improve the information transparency of listed companies.

 

The new regulation, including measures to improve information releases, will make reports of listed companies easier to understand, said Fan Fuchun, vice chairman of CSRC, at a symposium held in Shenzhen, south China's Guangdong Province.

 

The CSRC will also cooperate with accounting, auditing and asset evaluation institutions to prevent the publication of fake fiscal information. That kind of behavior will be severely punished.

 

China's capital market has become an important part of its intangible economy. By last July, Chinese companies had raised over 1.5 trillion yuan by going public in domestic or overseas stock exchanges.

 

The trade volume of China's intangible assets increased to 41.3 trillion yuan last year from less than 10 trillion yuan in 2000.

 

Experts said that China's intangible economy is having a stronger influence on gross domestic production each year and providing more employment.

 

(Xinhua News Agency October 24, 2006)