Anthony Neoh talks Mainland bourses and regulation

In the first of a two part discussion, the CSRC''s special advisor discusses China''s plans for a third domestic board to house de-listed SOE''s.
Having introduced a de-listing mechanism earlier this year, the CSRC's Chinese Securities Regulatory Commission plans for a third board may signal its intention to accelerate the pace of de-listings among the predominantly loss-making state-owned sector.

De-listed companies could receive a new lease of life by being listed on a separate board, the so-called third board, says Neoh.

There are numerous supervisory and disclosure issues, he comments, but something has to be worked out as shareholders of de-listed companies have a right to transfer their shares in an orderly manner, be it through sale and purchase, gift or succession.

For example, securities firms could host an over-the-counter-market for an individual de-listed stock under the...

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