Securities body to ease regulations

Chinese securities companies will be encouraged to replenish capital in diversified ways and related regulations will be loosened, according to China Securities Regulatory Commission (CSRC) on Friday.

CSRC said the commission will cancel two IPO rules on growth and competitive capability of securities companies, and loosen requirements on the companies' shareholders. CSRC will also encourage them to offer preferred shares and retain profits.

The commission also said that the Financial and Economic Committee of the National People's Congress is promoting the revision of the Securities Law.