CHINA’S State Council, or Cabinet, Friday detailed multiple measures to improve the quality of listed companies, in a fresh bid to sustain the steady growth of the domestic capital market.

The capital market’s role as the main channel for mergers, acquisitions and reorganization should be fully utilized to encourage listed firms to revitalize their stocks and improve quality and efficiency, according to the measures.

Regulators would strengthen the penalties for fraudulent issuance, illegal information disclosure, market manipulation, insider trading and other illegal activities, according to the measures.

The country will also enhance the cooperation between administrative agencies and judicial agencies to realize the rapid transfer and investigation of criminal cases and investigate and punish illegal and criminal acts in an effective way.

Meanwhile, delisting standards will be improved and delisting procedures will be simplified. China will enhance delisting supervision and severely crack down on malicious evasion of delisting through financial fraud, transfer of benefits and market manipulation.

China will allow more qualified foreign investors to make strategic investments in Chinese listed companies, according to the measures.

(SD-Agencies)