Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
China enhances regulation of funds, securities dealers
Adjust font size:

China's securities watchdog on Monday required fund companies to make their information release more transparent and rolled out a draft regulation on brokers, its latest moves to boost the healthy development of the country's stock market.

The information of stock-oriented funds, such as their periodic results, would be regularly publicized on the website of the China Securities Regulatory Commission, according to a standard format in the eXtensible Business Reporting Language (XBRL), starting from January 1 next year, the CSRC said in a statement on Monday night.

"The move was to further improve the quality of information release by fund companies," said the CSRC.

The new rule was expected to help third-party agencies to appraise and supervise the management of fund companies. Previously it was difficult for a third party to collect and analyze the first-hand information of funds, which was not available to all.

Meanwhile, the CSRC said a new regulation on securities brokers would prohibit them from surpassing their authority by manipulating customers' accounts or providing investment counseling.

The dealers would also be forbidden to "offer or spread false, misleading information", or "tempt customers to make unnecessary deals," said the CSRC. Nor could they make agreements on sharing investment proceeds with customers, or promise gains or compensation for losses.

"It was aimed at protecting the legal interests of fund investors and ward off risks caused by ill regulation of securities dealers," said the CSRC in a separate statement.

The watchdog's actions were part of China's recent efforts to straighten out the stock market order and lay a sound foundation for a long-term development.

The CSRC announced earlier this month it would raise the refinancing threshold for listed companies, saying the dividend they pay to shareholders in the recent three years should be no less than 30 percent of its distributed profits, compared with the previous set line of 20 percent.

Refinancing plans of listed companies had led to share price declines and complaints in China as liquidity concerns loomed over the stock market. Investors also blamed their losses on insider trading and opacity of fund companies.

Last week, a draft amendment to the Criminal Law was submitted to China's top legislature, stating that employees of financial institutes will face criminal prosecution for insider trading. Currently there were no relevant provisions in the Criminal Law.

China's benchmark Shanghai Composite Index has shed more than 60 percent from its peak in mid October last year.

In the first half, 364 funds in the country incurred a record loss of 1.08 trillion yuan (about 154 billion US dollars), more than 90 percent coming from stock-oriented or hybrid funds, according to statistics from the TX Investment Consulting Co..

(Xinhua News Agency September 2, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Regulation Aims to Tackle Fraud in Securities Trade
- Plan for rules on hot funds hits yuan
- Law of the People's Republic of China on Funds for Investment in Securities
Most Viewed >>
- Renminbi rise 'less necessary'
- Slowing exports push business up or out
- China's Top 500 Enterprises catching up with global giants
- Law on circular economy adopted
- China's continuing telecom investment causes waste
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 亚欧色视频在线观看免费| 免费福利在线播放| 日本三级做a全过程在线观看| 在线观看视频免费国语| 两个人看的视频高清在线www| 日本道在线播放| 亚洲aⅴ在线无码播放毛片一线天| 永久免费bbbbbb视频| 佐佐木明希哔哩哔哩| 精品极品三级久久久久| 国产一区日韩二区欧美三区| 麻豆国产剧果冻传媒视频| 国产精品一区二区三| 69精品久久久久| 国精产品wnw2544a| GOGOGO免费观看国语| 奶大灬舒服灬太大了一进一出 | 久久久久久久99精品免费观看| 日韩精品一区二区三区毛片| 亚洲va在线va天堂va不卡下载| 欧美性色黄大片在线观看| 亚洲欧美精品中字久久99| 浮力影院第一页小视频国产在线观看免费| 免费看黄色三级毛片| 精品哟哟哟国产在线观看不卡| 啦啦啦在线免费视频| 老司机深夜福利影院| 国产99久久久久久免费看| 蜜桃成熟时2005| 国产亚洲欧美日韩综合综合二区 | 国产极品美女高潮抽搐免费网站| 美女无遮挡拍拍拍免费视频| 国产精品女上位在线观看| 6080午夜一级毛片免费看| 国产香蕉一区二区三区在线视频| 99re免费视频| 国产高潮国产高潮久久久| 91进入蜜桃臀在线播放| 国产麻豆一级在线观看| 91福利在线观看视频| 国产视频www|