March 15, 2024 08:49 GMT
MNI BRIEF: China To Strengthen Shareholding Reduction Rules
MNI (BEIJING)
MNI (Beijing)
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Policymakers will improve shareholding reduction rules as part of a package of measures aimed at stabilizing the stock market, he China Securities Regulatory Commission announced Friday.
The regulator will work to prohibit major shareholders and senior executives from trading derivatives based on their company stock, said Guo Ruiming, director of the Department of Supervision of Listed Companies of the CSRC.
China will likely increase stock market regulation, such as tighter IPO rules and strengthened law enforcement, to create a fairer trading environment and restore investor confidence, which could push A-shares up 50%, a policy advisor told MNI in an interview. (See: MNI INTERVIEW: China To Strengthen Stock Market Oversight)
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