China to launch registration-based IPO next year
Updated: 2015-12-28 17:19
By LI XIANG(chinadaily.com.cn)
|
|||||||||||
China will launch a registration-based initial public offering (IPO) system in March 2016 to boost the role of the country's stock market and provide the necessary financing for companies.
On Sunday, the country's top legislature authorized the State Council to roll out the new IPO mechanism before completing the amendment of the Securities Law.
In a statement by the China Securities Regulatory Commission (CSRC), officials said the legislative approval of launching the registration-based IPO system marked significant development to the Chinese capital market and implements an important measure to allow the market force to determine the allocation of resources.
"It is not merely about delegating the IPO approval power to the stock exchanges but a major transformation of the regulator's role," the CSRC said.
The registration-based IPO system will emphasize the information disclosure rather than corporate prospect and profitability.
The regulator said that it will no longer endorse the value of prospective companies under the new system. But initially, it will still control the pace and pricing of IPOs to maintain market stability.
Related Stories
China to launch registration-based IPO system next year 2015-12-27 17:46
IPO concerns drain market liquidity 2015-12-25 07:57
Citrus firm boosts land holdings after IPO 2015-12-17 09:52
IPO numbers and values soar in China as companies shun US bourses 2015-12-16 07:37
Today's Top News
Abe expresses apology for Korean victims of comfort women
North China encounters gas supply shortage
Asian Infrastructure Investment Bank launched
Russia says it has proof of Turkey's support for IS
Investors adjusting expectations
India and Russia eye nuclear, helicopter deals
Chinese club offers lucrative contract to Spalletti
Germany is AIIB's largest non-regional shareholder
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Xi just needs to turn up for a grand welcome |
Stepping up |
Rural families still hope for male heirs |
Blue skies over Beijing ... for now |
V-Day parade for 70th WWII anniversary |
Tianjin blasts: Death, damage and bravery |