China securities watchdog to support quake-hit firms
SHANGHAI, June 6 (Reuters) - China's securities regulator will set up a fast track to approve applications for financing and new share issues by firms hit by last month's earthquake, official media quoted the China Securities Regulatory Commission's head as saying in reports on Friday.
The commission is studying specific measures to help quake-hit companies including Dongfang Electric Corp (600875.SS) (1072.HK) to resume production and rebuild facilities, the China Securities Journal quoted Shang Fulin as saying during a visit to the southwestern province of Sichuan, which was worst hit by the May 12 earthquake.
More than 500 people at Dongfang's main manufacturing site in Sichuan province were killed by the quake.
A spokesman for the company, China's biggest maker of power generating equipment, said last month that it expected output at the site to return to 80 percent of normal within six months.
Dongfang's Shanghai-listed shares have fallen 27 percent to 32.62 yuan since the quake.
The CSRC on Thursday approved an initial public offering by China State Construction Engineering Corp Ltd, the country's biggest home builder, that could raise more than $6 billion in China's largest IPO this year.
Analysts said the authorities' action on the IPO, despite weakness in the stock market, may reflect their drive to get state enterprises moving quickly on the post-quake reconstruction effort. (For details click [ID:nSHA261664]) (Reporting by Alfred Cang; Editing by Edmund Klamann)
