介绍： China's stockmarket

中国股市

Bring out your dead

清理尸骸

China wants to clear the dross from its stock exchanges

中国想要清除其证券交易所里的糟粕

Like many Chinese companies on the stockmarket, Gangtai Holding, a jewellery-to-property conglomerate, flaunts its listing. It displays its ticker number, 60...

介绍： China's stockmarket

中国股市

Bring out your dead

清理尸骸

China wants to clear the dross from its stock exchanges

中国想要清除其证券交易所里的糟粕

Like many Chinese companies on the stockmarket, Gangtai Holding, a jewellery-to-property conglomerate, flaunts its listing. It displays its ticker number, 600687, prominently on its website and in its ads. But not for much longer. On January 7th Gangtai began a 30-day period almost certain to end with its ejection from the Shanghai Stock Exchange. It is one of a growing number of Chinese companies to face delisting at home.

和股市里的很多中国公司一样，业务范围从珠宝到地产的企业集团刚泰控股也在炫耀自己上市公司的地位。它将其股票代码600687展示在官网和广告的显著位置。但好景不长。1月7日，刚泰进入了为期30天的退市整理期，几乎可以肯定的是，在这之后它会被踢出上海证券交易所。除了刚泰之外，还有越来越多的中国公司在国内面临退市。

In recent months all the delisting talk has been about the removal—or not—of Chinese companies from American exchanges (see Business section). Within China, though, a potentially more important kind of delisting is on the agenda: regulators have made it easier to strip lousy firms of their listing status. It is the latest in an array of reforms aimed at modernising the stockmarket, long seen more as a casino than an efficient allocator of capital.

近几个月以来，所有关于退市的言论说的都是中国公司是否会被踢出美国交易所。不过，在中国国内，一种或许更为重要的退市正提上日程：监管机构已经把劣质公司上市身份的撤销变得更加容易。这是一系列股市现代化改革措施中最新出台的一项。长期以来人们更多地将股市视为赌场，而非资本的有效配置渠道。