CSRC says determined to implement delisting rules

SHANGHAI (AFX-ASIA) - The China Securities Regulatory Commission said it is determined to implement regulations on the delisting of loss-making companies, the China Securities newspaper reported.	    The report cited a CSRC spokesman as saying that the delisting system is an important policy for promoting the healthy development of the stock market.	    If companies which already have "particular transfer" status cannot carry out practicable asset restructures, delisting will be unavoidable, he said, adding that these companies must only return to profit via genuine restructures, not via book transactions.	    Companies with "PT" status are also barred from publishing falsified information on their asset restructure plans in order to mislead investors.	    The spokesman added that companies with "PT" status, and those facing the threat of "PT" status, are high risk investments, facing the risk of both delisting and bankruptcy.	    Since these companies generally have large debts and poor asset quality, there is very little chance they will get out of difficulties.	    Companies which already had "PT" status before the release of the delisting rules on Feb 22, and which have already forecast a net loss in 2000, must inform the stock exchanges, before the publication of their 2000 results, whether they believe they will be able to return to profit in the first half of this year.	    If these companies cannot detail practicable measures for returning to profit, they will be delisted, he said. 

Related stock : (NIL)