China always respects enterprises' choices of listing market, China's chief securities regulator said at the Lujiazui Forum on Thursday, emphasizing enterprises should abide by local laws and regulations.
Yi Huiman, chairman of the country's securities regulator, said that China is always open and supportive to enterprises' choices of listing market as choosing the right listing location is an independent made by enterprises in aligning with their own development needs, and is a common strategic and commercial decision for enterprises to either go overseas for listing or returning to China after they completed their listing abroad.
However, enterprises should always abide by local laws and regulations regardless their choices of markets, according to Yi, noting that it is necessary for enterprises to be conscious of their public image and respect the law and investors.
Regulators across the world also needs to further strengthen the law enforcement cooperation, jointly providing the market with firm regulatory expectations and environment, while combating illegal actions violating the regulations, Yi said.
We will strike a balance between openness and security, and the premise for enterprises to list in overseas markets is to comply with relevant laws, regulations and regulatory requirements in China, Yi noted.
As of May 5, as many as 248 Chinese companies were listed on major US stock exchanges - Nasdaq, the New York Stock Exchange, and NYSE American - up from 217 on October 2, SCMP reported, citing a report released by the US-China Economic and Security Review Commission, a congressional advisory body. During that time, 17 Chinese companies were also delisted from US exchanges.
Global Times