August 23, 2019 / 8:57 AM / a month ago

China publishes draft rules allowing listed companies to spin off units

SHANGHAI/BEIJING, Aug 23 (Reuters) - China’s securities regulator on Friday published draft rules that would allow publicly traded companies to spin off subsidiaries for separate domestic listings.

Under the proposed rules, the parent companies must retain adequate businesses and assets, the China Securities Regulatory Commission (CSRC) told a news conference in Beijing. (Reporting by Xiaochong Zhang, Samuel Shen and John Ruwitch; editing by Darren Schuettler)

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