Article taken from: s.chinadailyhk.com
China’s IPO reform process to be ‘systematic’ By Zhou Lanxu Friday, October 23, 2020, 09:26 By Zhou Lanxu China will undertake reforms in a systematic manner to ensure the smooth implementation of the registration-based system across the entire capital market, the country’s top securities regulator said on Thursday. The commission will formulate a plan for expanding the registration-based reform to the whole market and ensure a step-by-step and smooth process, Li said at a sub-forum of the Annual Conference of Financial Street Forum 2020 in Beijing. The ongoing registration-based reform, which aims to abolish the approval-based initial public offering system and help market forces have a greater say in IPOs, acts as “a fundamental revolution” to China’s stock issuance system and entails reforms in fields much wider than the issuance itself, Li said. […] ALSO READ: China ready to extend IPO reform throughout market China kicked off the registration-based reform by implementing the same in the STAR Market in July 2018. […] READ MORE: Alibaba will buy a fifth of shares in Ant Group’s mega IPO Partly to ensure a smooth implementation of the registration-based reform, China has worked to introduce more mid-to long-term investors into the A-share market, including foreign ones.
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