China issues new guidelines on state holdings in listed firms

China on Friday issued new guidelines on the managing of shares of publicly listed companies held by state-owned entities, according to a notice on the Ministry of Finance's website. The new rules are meant to standardise how state shareholdings of listed companies change hands, to protect the rights of all investors and to prevent losses of state assets, it said.
The notice, co-signed by the finance ministry, the state-owned assets regulator and the securities regulator, said the rules will help avoid shocks to the stock market from changes in state holdings of listed companies.