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December 23, 2009

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CSRC Keen On Clean Energy Listing

CHINA'S securities regulator encourages more energy-saving companies to launch initial public offerings on the domestic Nasdaq-style board.

The China Securities Regulatory Commission should give its full weight to adjusting the economic structure and speed up development of low carbon, green economy, environment protection, biomedical and new energy companies, its Chairman Shang Fulin said at a forum yesterday.

Shang also called for more mergers and restructuring of listed firms, technology upgrading and ensuring that profitability of companies be sustained. He also said the CSRC will improve the new stock pricing mechanism and revise delisting rules.

He highlighted a key task for the CSRC next year is to develop a corporate bond market although he did not release further details.

Shang also encouraged securities and futures companies to expand abroad as "the move will enable more companies to compete with their overseas counterparts and accumulate managerial experience to enhance their capabilities."

The turnover of China's futures market in the first 11 months of this year was 113.3 trillion yuan (US$16.59 trillion), a surge of 72.57 percent from a year ago.


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