China's securities regulator has offered exemptions to venture capital and private equity firms from new measures restricting how quickly shareholders can offload their stakes in newly listed companies.
On May 26, the regulator unveiled new rules limiting the ability of major shareholders to sell their stakes in newly listed companies for a quick profit, which often occurs to the detriment of small individual shareholders in China.
Most venture and private equity funds, however, will be in a position to apply for exemptions from the new rules, the China Securities Regulatory Commission disclosed on its website Friday evening.
"The development of venture capital funds has broadened the financial channels for small and medium enterprises, assisted the industrial upgrade and economic structural shift, and encouraged private investment ...
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