SHANGHAI :Chinese regulators said on Friday they will streamline the process of equity and bond issuance by companies hit by the pandemic, and urged brokerages and fund managers to channel more money into virus-hit areas and sectors.
China is grappling with the biggest COVID-19 outbreak in two years, with full or partial lockdowns in cities such as Shanghai hitting consumption and production, and raising the prospect of economic recession. The CSRC said that profitability requirements will be lowered for virus-hit companies in the vetting of initial public offerings , as long as the applicants' operations are deemed sustainable.
Regulators will also allow companies to use electronic signatures when applying for securities issuance, and extend the deadline for addressing regulatory enquiries.