China stock exchanges issue revisions to regulations related to trade halts

[November 21, 2018]  HONG KONG (Reuters) - China's Shanghai and Shenzhen stock exchanges said on Wednesday they have issued revisions to regulations related to trading suspensions of listed companies as part of wider efforts to clean up practices in the corporate sector.

A sculpture of a bull is seen outside the Shenzhen Stock Exchange at the southern Chinese city of Shenzhen in Guangdong province November 25, 2008. REUTERS/Bobby Yip (CHINA)

The exchanges will allow listed companies that are planning on asset restructuring via share issue to suspend trading in their shares by up to 10 trading days, they said in separate statements. Previously, there were no particular time limits in this aspect.

Both exchanges will solicit opinions to the revisions of regulations until December 21, they said.

The exchanges has been issuing regulations aimed at improving corporate governance.

Earlier in November, the exchanges published rules on delisting companies involved in fraud or that have violated rules on information disclosure.

(Reporting by Twinnie Siu in Hong Kong and Lee Chyen Yee in Singapore)

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