China boots record number of companies from its bourses

China boots record number of companies from its bourses

FILE PHOTO: A woman wearing a face mask walks on a pedestrian overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, China, March 13, 2020. REUTERS/Aly Song

A record number of companies got the boot from Chinese mainland stock exchanges last year and that number could double in 2023, as regulators ramp up efforts to cull poorly performing firms and those that violate the rules or break the law.

A total of 42 companies were kicked from either the Shanghai or Shenzhen stock exchange in 2022, the highest ever and more than double the figure in the previous year, according to public information compiled by Caixin. The vast majority were delisted due to poor financial performance.

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