The Shenzhen Securities Regulatory Bureau will implement a series of measures next year to regulate the city's listed companies, Securities Daily reported Monday, citing Zhang Yundong, head of the bureau.
According to the report, total assets of Shenzhen's listed companies have increased 920-folds to 4.6 trillion yuan ($690 billion) over the past 20 years, and the companies' profits have increased 800-folds to 80 billion yuan.
Credit supply may top govt targetsHowever, Zhang pointed out that some companies' information disclosure processes are still ill-formed, and the flaw is likely to aggravate the secondary market's irregular activity.
The bureau will pay more attention to the listed companies' finances and accounting constructions, Zhang said, adding that the listed companies should invest more resources on their subsidiary companies' accounting constructions.
In addition, the bureau will crack down on "insider embezzling" crises starting next year, Zhang said.
The report detailed how bureau officials will carry out a series of measures if and when irregular activities are discovered. According to Zhang, the bureau will severely punish the secondary market's irregular and illegal activities, including insider trading, market manipulation and false information disclosure.
In the report, Zhang also pledged to optimize resource allocation among the listed companies in order to increase the companies' quality..
