国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

China will adopt stricter standards for applicants of initial public offerings (IPOs) next year to ensure the better quality of its listed companies, the China Securities Regulatory Commission announced over the weekend.

The commission released a circular on the new standards on Sunday, which require domestic companies to finish their shareholding restructuring three years prior to sending in their listing applications, though exceptions are permitted for State-owned enterprises which transfer entirely into shareholding companies and under other situations allowed by the State Council.

Meanwhile, companies planning IPOs cannot have major managerial changes over the three year lead-up phase.

The new standards are to guarantee the independence of the listing arm of domestic companies and the integrity of corporate financial reports, said Dong Cheng, an analyst with China Securities Co.

Presently, China requires applicants for listing to first set up shareholding-structured companies, which have to generate a profit record over three years.

But some companies wanting to issue stocks as early as possible try to produce satisfactory financial reports. Fraud sometimes occurs during the restructuring, which can be difficult to monitor.

"The three-year timeline will make it hard for the listing applicants to evade regulations on their genuine financial status," said Dong.

The listing arm, or the shareholding company, has to be operating independently outside the parent company three years in advance, so it will be easier to trace its real performance.

The curb on the movement of some staff will also prevent companies from simply borrowing a shell for listing and then completely transforming, said Xu Hongyuan, deputy director of the State Information Centre's Development Department.

Moreover, the new rules also enhance regulations on affiliated trade of companies planning an IPO to check the infringement on smaller shareholders' interests by bigger shareholders.

For example, a 30 per cent upper limit is set for the ratio of raw material purchases or product sales that stock issuers can make with affiliations of big shareholders.

All these will help ensure the quality of the newly listed companies, said Xu.

Close

Today's Top News		Top Business News
+The next great leap after Shenzhou V ( 2003-10-21) +Hu calls for balanced development ( 2003-10-21) +Report: SARS not airborne virus ( 2003-10-21) +Japan urged to resolve weapons issue ( 2003-10-21) +Int'l AIDS group opens Beijing office ( 2003-10-21)		+Home-appliance giants want wheels ( 2003-10-21) +Exchange-rate reform under study ( 2003-10-21) +Health insurance sector called for ( 2003-10-21) +SanDisk teams up to open outlets ( 2003-10-21) +Housing prices start to sag in Shanghai ( 2003-10-21)