NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Laws & Regulations
Stricter legal supervision on financial market urged
Latest Updated by 2007-05-31 15:04:42
Related News
Business News
WB raises China's GDP growth forecast for 2007 to 10.4%
China's tax burden at lower international level
China pledges to guarantee HK's pork supply

China needs a legal framework to strengthen the supervision over the financial market, the central bank said in a report released on Wednesday.

"Institutional improvement is a priority as China's financial market is far from mature," said the report on development of the country's financial market.

Laws were required as soon as possible to improve transparency on transactions, information disclosure, mergers and acquisitions of listed companies and securities firms, according to the report.

The central bank also called for industry associations of securities, futures, accountants and lawyers and credit rating companies to assist government regulators to tighten market supervision.

The China Securities Regulatory Commission, the country's securities watchdog, said in April that companies in the past had tended to exaggerate profits, but a new trend saw companies trying to manipulate their stock price by disclosing false information, and insider trading.

It cited the case of Hangxiao Steel, a Shanghai-listed construction company that saw its share price soar earlier this year after claims of a huge overseas contract.

The commission announced on April 27 that Hangxiao Steel had violated information disclosure regulations with its overseas contract claim.

The commission has pledged to curb illegal trading and fraud in the stock market.

In February, the State Council approved the China Securities Regulatory Commission to lead a cross-departmental team to crack down on illegal securities business.

Editor: Yan

By: Source: China View website
Previous:    Next:Stamp tax raised on securities to cool stock market


5,000 smuggled animals abandoned at sea


Human Domino get people relaxed


[Guangzhou] Eight New Attractive Places of Liwan District Selected


Tiyu Xi Road South to reopen to traffic


China beat S Korea 5-2 in women's soccer friendly
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips