CSRC denies refinance rumor

The China Securities Regulatory Commission on Friday denied a market rumor that the refinancing figures for Chinese companies listed on the A-share market from January to July exceeded the total capital raised through initial public offerings over the past 10 years.

A spokesman for the commission said the value of refinancing by these companies in the first seven months this year totaled 343 billion yuan ($55.9 billion), 158.2 billion yuan by equity refinancing and 184.8 billion yuan through bond refinancing. The total amount of capital raised through IPOs from 2003 to 2012 was 1.88 trillion yuan.

"The refinancing of Chinese listed companies was market-oriented and their decision-making processes should be disclosed so that public investors learn the information a timely fashion," said the spokesman.