The China Securities Regulatory Commission (CSRC) issued guidelines designed to give minority shareholders of listed companies more say in their companies' major decisions and better protect their interests. According to a draft document posted on its website the CSRC said that public shareholders of listed firms should actively participate in voting about major events. Issues such as new share sales, convertible bond issuance, major asset restructuring and overseas listing of subsidiaries, would have to be approved by more than half the public investors attending a vote, the document said. The draft regulations are up for public consultation until October 15 after which the CSRC said it would formally enact the document.
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