Mainland companies may soon be allowed to use their stock to buy stakes in publicly traded companies. New draft rules released May 22 by the China Securities Regulatory Commission would limit the reforms to companies with good track records, while those with a history of illegal behavior would not be allowed to take advantage of the reforms. Companies with a large amount of overdue loans may also be kept from taking part in mergers. China lifted a year-long ban on initial public offerings in mid-May. The new reforms are aimed at expediting mergers and acquisitions in the stock market, the South China Morning Post reported.