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Chinese securities regulator strengthens supervision of listed companies

Chinese Securities Regulator Strengthens Supervision of Listed Companies

BEIJING – In an effort to strengthen the supervision of publicly-traded companies, Chinese securities watchdog has announced a strong crackdown on illegal practices, such as the collection and reporting of false financial and accounting information.
Practices that include lies, accounting fraud and illegal guarantees must be severely punished, Yan Qingmin, vice chairman of the China Securities Regulatory Commission, said in a meeting.
The commission will improve the informant reward system and use it as an important way to clean up the capital market so that more market participants can actively play the role of social oversight, Yan added.
Listed companies should seek progress while maintaining stability and taking the initiative to promote high-quality economic and social development, Yan said.
(Sahar News Monitoring Desk)

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