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China approved revised Securities Law, cut red tap for new listings, toughened penalties

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China’s top legislature approved the country's revised Securities Law, in which listing rules are relaxed and penalties for rule violations are significantly tougher.

The changes to the law will be effective from March 1, 2020, according to a government statement on Saturday citing decisions made by the National People’s Congress Standing Committee.

The revised law removed profitability requirement for new listings, changing the requirement from "capable of continuous profitability" to "capable of . . .

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