Listed companies' transparency to be improved
(Xinhua)
Updated: 2006-10-24 11:27
China Securities Regulatory Commission (CSRC) is drafting a regulation to
improve the information transparency of listed companies.
The new regulation, including measures to improve information releases, will
make reports of listed companies easier to understand, said Fan Fuchun, vice
chairman of CSRC, at a symposium held in Shenzhen, south China's Guangdong
Province.
The CSRC will also cooperate with accounting, auditing and asset evaluation
institutions to prevent the publication of fake fiscal information. That kind of
behavior will be severely punished.
China's capital market has become an important part of its intangible
economy. By last July, Chinese companies had raised over 1.5 trillion yuan by
going public in domestic or overseas stock exchanges.
The trade volume of China's intangible assets increased to 41.3 trillion yuan
last year from less than 10 trillion yuan in 2000.
Experts said that China's intangible economy is having a stronger influence
on gross domestic production each year and providing more
employment. (For more biz stories, please visit Industry Updates)
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