Government bodies agree on measures to punish dishonest firms

Twenty-two government bodies on Monday released a memorandum of understanding on punishing illegal and dishonest listed companies.

They include the China Securities Regulatory Commission, the National Development and Reform Commission, the China Banking Regulatory Commission, the China Insurance Regulatory Commission, the State Administration of Foreign Exchange and the General Administration of Customs.

The punishments target listed companies, the companies' directors, supervisors and management teams as well as controlling shareholders.