Reforming the capital market

China Forum | Yin Zhongli

New guideline stresses the market's role in listings and delistings and is expected to smooth out financing and equity incentives

In a move to create a more transparent and multilayer capital market and promote its healthy development, the State Council promulgated a guideline detailing an array of capital market reforms on Friday. The guideline, called the "New Nine State Regulations" to differentiate it from the one published 10 years ago, has drawn wide attention from the market, given that it has come at a time when China's stock market has been in a dire recession for years and hopes were high that the authorities would act and make changes.