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February 9, 2017

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CSRC to back green firms for listings

CHINA’S securities regulator yesterday said it will continue to support energy-saving and environmentally friendly firms that conform with the nation’s industrial development policies to launch IPOs and grow through effective use of the capital market.

The China Securities Regulatory Commission said strategic emerging industries, including energy-saving and environmental protection, are important in structural reform.

The CSRC has introduced measures including the Shenzhen-Hong Kong Stock Connect to broaden financing channels and lower financing costs.

At the end of June, 70 energy-saving and environment-protection firms were listed on the Small and Medium Enterprise Board of the Shenzhen Stock Exchange, while 59 were listed on the Nasdaq-style ChiNext board.

Under the current IPO system, new shares are subject to approval from the CSRC, which controls both the timing and price.

China is transforming its IPO approval system to a registration-based model, which will allow bourses to approve and clear the backlog of companies waiting.


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