15 March 2024 , 12:48
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China's stock market watchdog has promised to improve the quality of firms listed on its domestic exchanges.
The nation's Securities Regulatory Commission says it plans to get tougher on companies looking to go public and will increase its supervision of existing listed businesses. This could include conducting on-site checks.
The Supervisory body reiterated its commitment to cracking down on illegal activities such as producing false information, insider trading, and market manipulation. They clearly stated there will be "zero tolerance" for such improper practices.
Recently, Chinese markets have hit multi-year lows as economic growth has stalled, and the property sector is struggling due to clampdowns on developer borrowing. Billions of dollars in market value have been lost by Chinese companies as investors look beyond Hong Kong and Mainland China for better returns.