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China will tighten rules on listed companies suspending and resuming trade by as soon as next week to crack down on cheating and improve market order as index compiler MSCI EM index considers adding Chinese shares to its emerging market benchmark, the China Securities Journal reported on Tuesday.
The revised rules, to be published by the Shanghai and Shenzhen stock exchanges, will aim to prevent listed companies from using the prospects of a restructuring or other event to push up prices only to announce the initiative had collapsed, the newspaper said.
Inclusion in the MSCI emerging market index would enhance China's reputation in global stock markets and require funds that track the index passively to buy the shares regardless of their views on the stocks.
The rules will also address the issue of listed companies initiating share trading halts at will, and keeping trading suspended for too long, which is seen as a major obstacle to inclusion in the MSCI index, the article said.
More than a thousand Chinese companies suspended trading during last summer's market rout, severely affecting market order and liquidity.

Copyright Reuters, 2016

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