China Removes Barriers for Listings by Financial CompaniesThe China Securities Regulatory Commission (CSRC) has recently issued regulations for information disclosure by listed financial companies, the China Securities said November 14.The issue of the regulations removed the barriers for public listings by China's commercial banks, securities houses and insurance companies, the report said. According to the new regulations, financial companies should give special attention to their asset quality and internal control mechanism in their prospectuses and financial reports. The regulations require that financial reports of financial companies be subject to auditing by international accountant offices recognized by the CSRC and the Ministry of Finance. China now has two listed commercial banks, while a large number of banks, securities houses and insurance firms are awaiting for approval to go public. |
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