Yesterday The China Securities Regulatory Commission (CSRC) issued new draft rules governing major asset restructuring by listed companies, the Shanghai Securities News reported today.

The rules redefine major restructuring as restructuring that transaction amount should reach 50 percent of financed assets and exceed 50 million RMB.

Such restructuring requires the approval of over two-third of a listed company’s shareholders instead of previous 50 percent.

The CSRC will set up a special panel responsible for listed companies’ restructuring applications.