China’s Cabinet vowed to tighten stock listing criteria and urged companies to improve corporate governance in new guidelines released on Friday, the latest effort to support the nation’s equity market. 

The State Council will ensure “high-quality development” of listed companies, crack down on illegal share sales and strengthen the supervision of dividend payouts, according to a statement. It will also promote the entry of medium- to long-term funds into the market, the statement said. 

The measures come as the equity market has struggled to extend a nascent rebound, with the CSI 300 Index falling for the seventh session on Friday. While stocks have rebounded since a February low, aided by a a raft of policy steps including purchases by state funds and restrictions on quant funds, the market has lost momentum with uncertainties over corporate earnings and the economy’s recovery.  

  - Bloomberg