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China’s regulators toughen punishments for listed firms’ environmental offenses

Updated: Jul 25,2018 7:58 PM     Xinhua

BEIJING — Chinese regulators have toughened regulation of environmental offenses by listed companies.

In the first half of the year, two listed firms, Shanxi Sanwei Group and Huifeng Joint-Stock, were named and shamed by the country’s environment and securities watchdogs for environmental pollution.

Shanxi Sanwei Group, a high-tech chemical enterprise listed in Shenzhen, illegally discharged pollutants, while Huifeng Joint-Stock dumped dangerous waste.

After the exposure, the Ministry of Ecology and Environment asked the China Securities Regulatory Commission to launch investigation into information disclosure which led to sharp falls of share prices of the firms.

The regulators’ move is part of China’s campaign to fight pollution and environmental degradation.

Tackling pollution has been listed as one of “the three tough battles” that China aims to win in the next three years.