Chinese companies impacted by the pandemic are to be offered an easier entrance to its capital markets as Beijing bids to improve its Covid-hit economy.<\/p>\n
Chinese regulators as well encouraged brokerages and fund managers to channel more capital into virus-hit areas and sectors.<\/p>\n
And the China Securities Regulatory Commission (CSRC) also promised more regulatory flexibility if businesses can’t sign documents or meet financiers in person because of pandemic-related restrictions.<\/p>\n
China is grappling with the biggest Covid-19 outbreak in two years, with full or partial lockdowns in cities such as Shanghai hitting consumption and production and raising the prospect of economic recession.<\/p>\n
The CSRC urged stock and futures exchanges, and other institutions to “make solid efforts to help companies wade through the pandemic.”<\/p>\n
The CSRC said that profitability constraints will be lessened for virus-hit companies in the vetting of initial public offerings (IPOs), if the applicants’ operations are deemed sustainable.<\/p>\n
Meanwhile, the application process for refinancing, bond sales and asset purchases will be accelerated for Covid-hit sectors.<\/p>\n
CSRC Encourages Brokerages to Help<\/strong><\/p>\n Regulators will also allow businesses to use electronic signatures when applying for securities issuance and increase the deadline for addressing regulatory enquiries.<\/p>\n The CSRC also encouraged brokerages to underwrite more share and bond sales for companies affected strongly by the virus, and steer clear of margin calls as much as possible.<\/p>\n For mutual fund houses, the CSRC urged them to actively use their own capital to purchase funds and channel more private capital into virus-fighting companies.<\/p>\n Regulators will also accelerate the approval of anti-virus fund products, according to the statement.<\/p>\n About Us:<\/strong><\/p>\n South Pass Partners offers a broad range of investment solutions and financial advice. From high net-worth individuals and their families to international businesses, we tailor the needs of private clients and retail investors that are looking to maximize their net-worth for themselves and of course, future generations. We remain true to our independence and to our dedication to putting our clients’ needs first in everything we do.<\/p>\n Japan (Global Headquarters)<\/p>\n Higashi Yaesu Building,2-9-1 Hatchobori,<\/p>\n Tokyo, Japan<\/p>\n Contact: Miriam HuangPhone: <\/p>\n +81-50-5532-6025<\/p>\n E-mail: info@southpasspartners.com<\/a><\/p>\n Web: www.southpasspartners.com <\/p>\n Media Contact<\/span>
Company Name:<\/strong> South Pass Partners<\/a>
Contact Person:<\/strong> Miriam Huang
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> +81-50-5532-6025
Address:<\/strong>Higashi Yaesu Building, 2-9-1 Hatchobori
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Website:<\/strong> www.southpasspartners.com<\/a><\/p>\n