new
or
You are here : Stone Home > Info Center > Financial News > China tightens regulations on state-owned shareholders

China tightens regulations on state-owned shareholders

Updated:2009-07-06 10:00:26

China's state assets regulator announced it would strive toward stricter control over the actions of state-owned shareholders here Friday, in a move to protect investors' profits and maintain a stable market.

State-owned shareholders of listed companies should apply for approval from regulators if they want to sell a certain number of shares that exceeded an amount not specified in a document published on the Web site of China's State-owned Assets Supervision and Administration Commission (SASAC).

The application should include a timeframe for the sale of the shares, the minimum price of the shares and the number of the shares of the planned sales, to make sure that state-owned shareholders would not sell the shares at too low a price, said the SASAC.

Shareholders of state-owned assets also need a pre-approval from regulators before moving assets, said SASAC.

Previously, the exchange of assets must meet approval from the board of directors before being approved by the regulators. Then the exchange could be offered for approval by the shareholders.

State-owned listed companies should disclose restructuring information with their shareholders, said the SASAC documents.

If restructuring is halted by shareholders due to price fluctuations, it said, state-owned shareholders should wait three months before taking action.

 

Source:http://news.xinhuanet.com

Premium Related Products
Natrure Pebble
Natrure Pebble
Price:Negotiation
Origin:China
Categories:Other
XIAMEN MANFAN IMP.& EXP.CO.,LTD
ChinaChina
Cobblestone
Cobblestone
Price:Negotiation
Origin:China
Categories:Other
XIAMEN MANFAN IMP.& EXP.CO.,LTD
ChinaChina
Diamond Core Drill Bit
Diamond Core Drill Bit
Price:Negotiation
Origin:henan
Categories:
Zhengzhou Sanxiang Technology Co.,Ltd
ChinaChina
Browse by: Stone Manufacturers | All Products | For Buyers | For Sellers | Suppliers | Stonebtb.com International | Stonebtb.com China | Site Map
About Us | Stonebtb Service | Contact Us | Our Partners | Video | Exchange Link | Terms of Use
Copyright 2007-2019 Stonebtb.com All rights seserced