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M&A management rules to be revised

By Bi Xiaoning and Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-03-06 16:32

China's securities regulator will revise the management rules on listed companies' mergers and acquisitions, shortening the approval time for major M&A deals, Fan Fuchun, vice-chairman of China Securities Regulatory Commission (CSRC), said on Friday.

"It is time for cash-rich listed companies to go overseas, particularly those resources companies," said Fan, also a member of the Chinese People's Political Consultative Conference.

"We've done lots of preparatory work for the revision, and we will soon release the draft rule to seek public opinion," said Fan.