OTHER NEWS - Nov. 7, 1995
China’s Securities Watchdog Criticizes Irregularities: The Chinese Securities Regulatory Commission issued a notice criticizing the Shanghai Stock Exchange for improper stock trading and also urged the stock exchange to punish those involved in the irregularities, the state-run New China News Agency reported. In August, the stock exchange approved the listing and trading of the Sichuan Changhong Electronic Appliances Co., the report said. The China Economic Development Trust and Investment Corp., the main underwriter of the Changhong shares, sold more than 4.2 million dividend stocks and earned nearly $5.3 million. The panel said regulations forbid the listing and trading of the two types of securities, called legal person shares and dividend stocks.
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