Unlisted firms get new scope in M&As

The China Securities Regulatory Commission on Friday released rules covering unlisted public companies that it said will support the development of the nation's capital markets and help small and medium-sized enterprises.

The CSRC defines an unlisted public company as one with more than 200 shareholders, although the shares aren't currently traded on a stock exchange.

"The rules are market-oriented and give attention to the rights of shareholders," said Zhang Xiaojun, a CSRC spokesman,