The China Securities Regulatory Commission has revised rules on corporate financings by listed companies requiring them to pay more cash dividends to shareholders. Under the latest rule change, listed firms that want to raise funds from offers of new shares or subordinated debt will need to have made total cash dividend payments over the past three accounting years of more than 30% of average annual profits available for distribution. Meanwhile, the CSRC also issued supplementary regulations to share buyback rules released several weeks ago, allowing listed companies to make cash dividend payouts during share buyback periods. Both the revised dividend payout rules and the supplementary share buyback rules took effect on 9 October.