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CSRC revises M&A rules

The China Securities Regulatory Commission (CSRC) on Friday revised regulations on the country's mergers and acquisitions (M&A) market to make the approval process more efficient and market-driven.

The revised rule will better regulate back-door listings by requiring a shell company to have at least three consecutive years of operations and a profitability record of more than 20 million yuan ($3.13 million) over two years.

China Daily - Agencies
(China Daily 08/06/2011 page9)

http://www.chinadaily.com.cn/cndy/2011-08/06/content_13061937.htm