China Economic ReviewShanghai Gold Exchange was due to formally open for business at the end of October, People's Daily said. Membership of the exchange is limited to financial institutions approved by the central bank to trade gold and companies that deal in gold production or wholesaling. The exchange currently has 108 members.
Shanghai and Shenzhen stock exchanges announced in October that they were halving brokerage trading commissions on treasury and corporate bonds to boost turnover. Shanghai's bond trading commission rates had remained unchanged since they were set in 1997, but brokerages commonly offered clandestine discounts that would be legalised by the new rates.
Citic Securities, a unit of China's largest trust company China International Trust and Investment Corp, was due to launch its initial public offering in October, having received approval from the China Securities Regulatory Commission to seek a listing, Reuters reported. This would be the first listing by a brokerage in China – the only listed […]
Companies issuing new shares must disclose risks that relate to the financial status of their parents, following fresh regulations brought in by the China Securities Regulatory Commission. The regulations, designed to better protect the interests of minority shareholders, apply to companies whose controlling shareholders have debts of at least Yn200m and debt-to-asset ratios of more […]
The China Securities Regulatory Commission announced that new rules governing the acquisition of domestic listed companies would come into effect on December 1, China Securities Journal reported. The new rules specify requirements for disclosure of deals to shareholders and provide a regulatory basis for acquisitions that should make it easier for them to take place […]