Four central authorities recently joined hands to stabilize capital markets via a joint notice stating their intent to encourage several revitalizing measures.
The Notice on Encouraging M&A, Restructurings, Cash Dividend Distribution and Share Buybacks by Listed Companies was jointly issued by the China Securities Regulatory Commission (CSRC), Ministry of Finance, State-Owned Assets Supervision and Administration Commission and the China Banking Regulatory Commission. The notice was issued 31 August and simultaneously took effect.
The markets have already started to bottom out in pace with the release of new policies to stabilize them. In this environment, “the notice will further liberate institutional dividends, enhance the listed companies’ investment values and promote the stable and healthy development of the capital markets”, Cai Qixiao, a Beijing-based partner of East & Concord Partners, told China Business Law Journal.
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