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China to Give More Leeway to Listed Companies: Zhou
China's securities regulatory authorities should put more emphasis on supervision, leaving corporate affairs to the listed companies themselves, according to one senior official in Beijing.
Zhou Xiaochuan, chairman of the China Securities Regulatory Commission (CSRC)was quoted in Tuesday's "China Securities" as saying that regulatory bodies should strengthen their supervision work to promote the standard operations of listed companies, enhance transparency, and help develop external supervisory systems.
The authorities should act more like a "referee," Zhou said, adding that it is inappropriate for the government to exert influence in corporate affairs such as use of funds and operations.
Fan Fuchun, vice chairman of CSRC, also urged local branches of the commission to step up supervision on information disclosure of listed firms in a bid to ward off risks and maintain the stability of the stock market.
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