China's Cabinet: Will improve quality of listed companies to protect investors' interests

China will improve the quality of listed companies to protect investors' interests, the Chinese state media reported on Wednesday, citing a statement from China's cabinet.

Additional takeaways

"Will allow more qualified foreign investors to make strategic investment in listed companies."

"Will improve transparency and quality of information disclosure by listed companies."

"Will step up punishment for irregularities such as market manipulation, insider trading."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 futures were up 0.43% on a daily basis.