Posted 3/15/2024, 10:21:32 AM
China Vows Stricter Oversight to Boost Slumping Stock Market
- China's markets regulator renews efforts to boost stock market, pledging to raise quality of listed companies
- Draft guidelines to more strictly vet IPO applications and oversee listed firms through on-site inspections
- Regulators reiterate pledge to prevent and punish fraud and other illegal activities like falsifying information
- Chinese markets have fallen to multi-year lows as economy slows and property sector struggles
- Chinese companies lose billions in market value as investors shift away seeking better returns elsewhere