VC companies gain more freedom

China's securities watchdog yesterday said that venture capital (VC) companies under partnership could be allowed to become shareholders of listed companies.

It is a long-awaited move to encourage VCs to bolster domestic companies' listings on the mainland.

The China Securities Regulatory Commission (CSRC) said it would modify the regulations on measures for the administration of securities registration and clearing, which would enlarge the scope for investors. Under the new rule, companies under partnership could open trading accounts to sell shares on the open market.