China limits share-sale approvals to slow market decline

08/1/2008 | Bloomberg

The China Securities Regulatory Commission is postponing the final stage of regulatory approval for companies preparing to float to stop the stock market's decline, sources said. "Controlling share sales is an important tool for CSRC, and it's effective in the short term," said Leo Gao of APS Asset Management in Shanghai. "More stock sales in a bear market is bad news."

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