Small-cap firms tap staff to boost shares

SHANGHAI - Some small-cap companies in China are trying to boost their low stock prices by requesting their employees to buy shares.

Already battered by the recent slump in mainland equities, such cash-strapped companies are even promising that executives, usually the chairman, will protect in-house investors from any potential losses.

At least 23 companies have offered so-called loss-free pledges this month. Most of them are listed in China's southern technology hub of Shenzhen.