BEIJING, Dec. 3 (Xinhua) -- China is incubating rules on delisting of stocks, reported Shanghai Securities News earlier this week.
The Xinhua-run newspaper said the country's securities watchdog and Shanghai and Shenzhen stock exchanges are busy optimizing the delisting rules and speeding up substantiating related supportive regulations in accordance with the rules on delisting of stocks listed on the sci-tech innovation board, better known as the STAR market and China's Nasdaq style board ChiNext.
The report expected that it may not take a long time for the Chinese regulators to invite public comments and opinions on the detailed rules relating to delisting of stocks.
Regarding the direction and pace of the delisting rule reform, Yan Qingmin, deputy head of China Securities Regulatory Commission (CSRC) once noted that regular delisting rules shall be improved together with their implementation.
For those "black sheep" with serious accounting fraud and shell companies without long-term operating capability, no long lasting and endless delisting shall be allowed, added Yan, saying that only through delisting and stable delisting of these companies can the quality of listed firms be further improved. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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