The mainland should speed up the introduction of a multilayered delisting system to boost development of the country's fast-growing stock market, a senior official with the Shanghai exchange said.
The regulator needs to focus on creating the delisting system to ensure the overall quality of mainland-listed companies, Xu Ming, deputy general manager of the Shanghai Stock Exchange, was quoted by China Securities Journal as saying.
His remarks came amid calls to expel underachieving companies from the nation's Nasdaq-style second-board market in Shenzhen.
'It is a must to focus on the delisting mechanism,' he said.
'We should have different standards for companies to be delisted from different boards, including the main board, the SME board and the start-up board.'
China does not have a real delisting system for its stock market that was established in 1990. In the past two decades, only a few habitual loss-makers have been thrown out of the Shanghai and Shenzhen exchanges.