Shake-up for securities law

China's company and securities laws are set for a major shake-up this week reducing government intervention in private business and strengthening the rights of minority stakeholders. The reforms are designed to bring securities oversight into compliance with a new administrative law set for approval in October, the South China Morning Post reported. One effect of the new regime will be to allow companies to issue shares at market prices instead of at a price set by the China Securities Regulatory Commission. Minority shareholders will also be given a greater role in decisions on company affairs, the paper quoted analysts as saying.