USEUROPEAFRICAASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Trading rules to protect investors

    Xinhua | Updated: 2017-06-02 07:56

    BEIJING-It will no longer be easy for rich shareholders of public companies to use excuses such as weddings or moving overseas to offload stocks when share prices peak.

    Last year, China's securities regulator limited anyone who holds more than 5 percent of a company's shares from massive dumping of their holdings.

    Compared with individuals investing their savings, major shareholders, supervisors and management enjoy advantages of asymmetric information, which can be unfair to small investors.

    So offloading stocks in a fire sale manner can wreck public confidence and cause retail investors to suffer.

    The 2016 rules stipulated that major shareholders, supervisors and managers should make public the number of shares, price range and reason for sales.

    Bizarre excuses like paying for children's tuition and purchasing homes soon captured the headlines.

    Some shareholders used the stock market like an ATM to earn quick money, and easily found loopholes in the old rules to profit from selling stocks when prices surged. This in turn caused volatility.

    Those rules made things more difficult, but some began to sell stocks to institutional investors in blocks. The institutional investors then sold stocks on the market.

    Major shareholders engineered the block trading to circumvent regulations.

    Some shareholders profited by timing their sales, Deng Ge, a spokesperson for the China Securities Regulatory Commission, said at the weekend when the CSRC, Shanghai and Shenzhen bourses came up with the new rules.

    "Such disorderly and irregular stock sales led to a very negative impact on investor confidence and the real economy," Deng said.

    The latest rules are aimed to plug these loopholes as stocks transferred through block trading should not surpass 2 percent of a company's total shares in any 90 days.

    Transferees are also not permitted to sell any more within six months.

    The new rules will slow the pace of offloading, which will stabilize the market and support growth of companies with stable profitability outlooks, according to Sun Xiwei, chief investment strategist at CITIC Securities.

    That view was echoed by Jin Haitao, a veteran investor, who said new regulations accurately targeted malpractices in the industry and will curb speculation.

    The new policies also improved regulation on stock reductions through selling of non-public offering shares, information disclosure, and equity transfers.

    "The new policies draw on globally accepted practices and can better protect interests of small investors," said Chen Shaoxia, chief researcher with Goldport Capital, a Shenzhen-based asset management company.

    Most Viewed in 24 Hours
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
     
    中文字幕无码精品三级在线电影 | 中文字幕不卡亚洲| 精品久久久久久无码中文字幕一区| 曰批全过程免费视频在线观看无码| 国产办公室秘书无码精品99| 日本久久久久久中文字幕| 波多野结衣亚洲AV无码无在线观看| 日本欧美亚洲中文| 亚洲人成无码网WWW| 亚洲av无码国产精品色午夜字幕 | 久久精品aⅴ无码中文字字幕不卡| 最近免费中文字幕大全高清大全1 最近免费中文字幕mv在线电影 | 一夲道无码人妻精品一区二区| 中文字幕av无码专区第一页| 免费无码毛片一区二区APP| 国产精品99久久久精品无码| 亚洲乳大丰满中文字幕| 国产办公室秘书无码精品99| 亚洲av永久无码精品漫画| 一区二区三区在线观看中文字幕| 中文无码精品一区二区三区| AV无码久久久久不卡网站下载 | 亚洲欧美日韩中文字幕二区| 色婷婷综合久久久久中文一区二区 | 最近2019中文字幕| 日韩中文字幕免费视频| 中中文字幕亚洲无线码| 无码人妻一区二区三区免费视频| 国产精品亚洲а∨无码播放| 无码精品一区二区三区在线| 无码福利一区二区三区| 最近免费中文字幕mv电影| 亚洲热妇无码AV在线播放| 中文字幕在线观看| 国产中文欧美日韩在线| 亚洲人成人无码网www国产| 日日摸日日碰夜夜爽无码| 国产成人无码免费看视频软件 | 国产a级理论片无码老男人| 人妻无码人妻有码中文字幕| 曰韩中文字幕在线中文字幕三级有码|