China’s ruling party decided to replace the country’s chairman of the securities regulator, Xiao Gang, with former central banker Liu Shiyu. The regulator has taken the blame for failing to stabilize the market turbulence in the country over the year.
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China's securities regulator took the drastic step of ordering shareholders with stakes of more than 5 percent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.
China's stock markets may be facing a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that could threaten the world's second-largest economy.
China's top securities brokerages said on Saturday that they would collectively buy at least 120 billion yuan ($19.3 billion of shares in a bid to stabilize the country's stock markets after a slump of nearly 30 percent since mid-June.
China will switch to a "registration system" for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes to the Securities Law.
Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, has received approval from Chinese regulators to move ahead with an initial public offering in Hong Kong worth up to $6 billion, IFR reported, citing people familiar with the deal.
The Chinese Securities Regulatory Commission will be supervising companies scheduled to hold their IPOs more strictly as it plans to hold spot checks for investor roadshows, Bloomberg reported.
The China Securities Regulatory Commission or CSRC revealed new plans on public share sales as initial public offerings are set to resume in January next year, Reuters reported.
Securities brokerage firm Everbright would be facing a bleak future as China Securities Regulatory Commission (CSRC) handed down a CNY523 million (USD85.5 million) fine and corporate suspensions for insider trading.
There were more than 110 China brokerages that would undergo government probe after Everbright Securities made a CNY23.4 billion buy order error.
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