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China to reform stock market delistings

03-22-2012 10:51 BJT

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ChiNext, China's Nasdaq-style market, is set to announce its delisting system later this year while the Shanghai Stock Exchange is also working on reforming its delisting process. The Shanghai bourse recently noted there could be more criteria raised in the future.

Shanghai Stock Exchange current stipulates that a company’s shares will be delisted if they run a deficit three years in a row.

Analysts say this system has loopholes, as companies can reorganize their balance sheets to avoid having to delist. The exchange says the system should also take other indicators into consideration, such as companies’ revenue for their main business and net assets.

Analysts say if public companies seriously violate the basic principles of fairness, transparency and justice, or fail to release information or manipulate data, their shares should be delisted as well.



Editor:Zhang Rui |Source: CNTV.CN

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