CSRC aims to gradually reform IPO registration
Print Edition
CHINA will press ahead gradually with reform of the IPO registration system, the securities regulator said on Saturday.
The country must achieve the reform to the system but its pace would depend on the development of capital market and legal conditions, Liu Shiyu, chairman of the China Securities Regulatory Commission, said at a press conference.
Liu said that building a multi-tier capital market is a precondition for the IPO registration system and lawmakers need time to work out related laws and regulations.
The registration system is not mentioned in this year’s government work report while a draft five-year economic and social development plan said the government will cultivate conditions for its rollout.
Liu also said on Saturday that it is too early to talk about when China Securities Finance Corporation Limited will exit from the market.
CSF, the national margin trading service provider, played a major role in the government’s efforts to curb market volatility last summer.
But Liu said market-stabilizing measures rolled out by authorities during the turmoil will be canceled when the market fully recovers.
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