Securities commission sets example for other central departments to follow

HUANG WEI, assistant chair of the China Securities Regulatory Commission, appeared in court in Beijing on Tuesday, as a representative of the top securities watchdog in an appeal hearing. Beijing News commented on Thursday:

The commission meted out an administrative penalty to Xintai Electric Company in July last year, because the company was caught trying to obtain qualification to issue securities by misrepresenting its financial status.

Xintai first appealed against the decision in January, claiming the commission had abused its power and infringed upon the company's legal rights and interests. The court rejected its appeal. This was the company's second appeal hearing.