CSRC to tighten supervision, regulation of markets

China's securities watchdog said it will strengthen supervision and regulation of the markets and deal with serious cases strictly and promptly, the Xinhua News Agency reported Saturday citing Jiang Yang, vice chairman of the China Securities Regulatory Commission (CSRC).

At the 2013 CCTV Chinese Listed Companies Summit, Jiang said 26 cases of violations by listed companies were under investigation in the first half of this year, much more than the cases in the first half of 2012, Xinhua reported.

Jiang stressed that the CSRC will intensify its crackdown on information disclosure malpractices, fraudulent listing and intermediaries' illegal acts.

The CSRC will set up an emergency response mechanism with systemic risk prevention and control as its core, covering different markets, government agencies and financial products.

Jiang said effective supervision and enforcement of the law helps to maintain an open, fair and just market as well as healthy development of listed companies and capital markets.