China completes draft plan for stock issuance reform
Updated: 2014-11-29 11:23
(Xinhua)
|
|||||||||
BEIJING - China's top securities regulator has completed a draft plan to reform the nation's stock issuance regime.
The draft plan, seen as major move in introducing a registration-based system for stock issuance, replacing the current system of administration, will be sent to the State Council for review before the end of this month, said Zhang Xiaojun, spokesman of the China Securities Regulatory Commission (CSRC).
CSRC led the drafting of the reform plan, with participation by multiples agencies including the National Development and Reform Commission, Ministry of Finance, and the central bank, Zhang said.
Under the current approval-based IPO system, newly listed candidates often experience a complicated application process that can take multiple rounds of reviews and several years to receive approval from the CSRC, while the registration-based IPO system will focus on companies' compliance review and be market-oriented and more transparent.
- Across Canada Nov 30
- Man begs for punches in exchange for donation for ailing son
- Trending: Soldiers dance the Little Apple song
- Letting kids bridge cultures
- Across America over the week (Nov 21- Nov 27)
- Daredevil dancer conquers mountain
- Chinese float gives joy at Macy's parade
- Calm comes to troubled Ferguson
Most Viewed
Editor's Picks
PLA opens bidding to lower costs |
Anti-doping agency says no cover-up of Sun's ban |
Chinese Internet pop song wins at American Music Awards gala |
Beidou navigation system approved for operations at sea |
Zou reveals softer side after bloody battle |
Reform promotes protection for pandas |
Today's Top News
China's Xi seeks new outlook on foreign affairs
Ferguson police officer who killed black teen resigns
China to expand input to fight HIV: Premier
Premier: Govt to beef up anti-AIDS efforts
Curbs on religious extremism beefed up in Xinjiang
Mandarin's moment
China, US fight terror on the Internet
How to give is focus of philanthropy forum
US Weekly
Geared to go |
The place to be |