CSRC tightens rules on acquisitions

Moves aim to reduce price volatility and enhance the fairness of trade

BEIJING - China's top securities regulator moved on Monday to tighten its supervision of listed companies' acquisitions, with moves to make disclosures of transactions more transparent and professional advisers more accountable.

The China Securities Regulatory Commission ordered that major shareholders, defined as those who hold more than 50 percent of a listed company's issued stocks, must disclose every 1 percent increase in their stakes during an acquisition process.