Beijing, China - Nov 20, 2017
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1. Members of Issuance Examination Committee of China Securities Regulatory Commission (CSRC) taking oaths

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2. Various of members of Issuance Examination Committee of CSRC taking oaths

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3. Members of Issuance Examination Committee of CSRC receiving appointment letters

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4. SOUNDBITE (Chinese) Liu Shiyu, chairman of CSRC:
"The listed companies are cornerstone of the capital market, whose quality determines the price of the capital market. If the share price of a listed company deviates seriously, it will definitely incur economic bubbles."

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5. Various of Liu Shiyu speaking, attendees

The new Issuance Examination Committee of the China Securities Regulatory Commission (CSRC) was formed in Beijing on Monday to better regulate the listed companies.

The 63-member new institution will play as an important checkpoint for the quality of listed companies, ensuring fairness of the capital market, according to the CSRC.

"The listed companies are cornerstone of the capital market, whose quality determines the price of the capital market. If the share price of a listed company deviates seriously, it will definitely incur economic bubbles," said Liu Shiyu, chairman of the CSRC.

According to the latest CSRC announcement, the biggest change of the new committee, compared with the previous one, is that it integrates the previous arrangements of a main board plus a growth enterprise board. Of its 63 members, 43 are full time and 21 part time. It has more members from ministries and commissions, universities and financial institutions, which is to ensure fairness and justice.

The new committee will also focus more on veracity of financial data of companies that apply for listing, as well as their profitability, compliance and risk control capacities.