--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

Securities Watchdog Vows to Standardize M&As

The China Securities Regulatory Commission (CSRC), the nation's securities watchdog, will set up a special committee to examine mergers and acquisitions (M&As) of listed companies.

Yang Hua, director of the CSRC's listed companies supervision department, said the committee would be launched "soon" but did not give more details about the committee.

Experts say the establishment of such a committee, which was proposed last year, is part of the commission's efforts to standardize M&As in the securities market.

Other efforts will include enhancing regulations and rules concerning asset restructuring; takeover of listed companies and share custody; and improving supervision efficiency, China Securities newspaper quoted Yang as saying.

Yang also promised to follow international experience to explore new channels and means to expand M&As; and thus create a good market environment for well-performing and high-quality listed companies.

He told a CEO forum of listed companies held in Shanghai on Monday that the CSRC has been encouraging listed companies to ensure above-the-board M&As and avoid irregularities like fabricated assets restructuring.

In the past, some listed companies, especially loss-making ones, conducted fake asset restructuring - called "restructuring on books" - before they released their annual financial statements in a bid to make their statements look better.

Other firms refused to provide enough information concerning their M&As to avoid supervision.

However, Yang said the phenomenon was curbed after the rules on acquisition of controlling stakes in domestically-listed companies took effect in December last year.

The rules contain detailed requirements on information disclosure and strict administrative measures to govern M&As.

"More M&As are driven by enterprises' development strategies and target resources optimization," he said.

(China Daily HK Edition August 20, 2003)

Foreign Takeovers Encouraged
Tax Break to Spur on Foreign M&As
Value of M&A in Shanghai Rises
Rule on Foreign Mergers and Acquisitions Under Way
New Rules to Encourage M&As
Foreign Investors Sought for Mergers and Takeovers
Shanghai Encourages Foreign M&As
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688