www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

China overhauling IPO process, mulls foreign firms listing

(Agencies) Updated: 2015-04-21 16:18

China overhauling IPO process, mulls foreign firms listing

Investors look at computer screens showing stock information at a brokerage house in Shenyang, Liaoning province, April 13, 2015. [Photo/Agencies]

China will switch to a "registration system" for initial public offerings (IPO), ending the current approval process, the China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes to the Securities Law.

A registration system - used in markets such as the United States, where the market decides who gets to list, when, and for how much - will obviate the China Securities Regulatory Commission's (CSRC) role as the approval agency, industry sources say, and leave companies to register with stock exchanges to float shares.

"The promulgation of the share issue registration system will focus on information disclosure and thus enable market participants themselves to judge the issuers' quality of assets and investment value," the newspaper quoted Wu Xiaoling, a lawmaker at the National People's Congress (NPC), China's parliament, as saying.

"It will move toward allowing the market to play a decisive role in asset allocation."

Investors hope the changes will address multiple problems, notably the possibilities for corruption in a system that requires official sign-off, share price spikes on launch days, and companies quequing for years to list.

Chinese regulators have historically closely managed the pace of IPO issuances, given their tendency to drag down the market if they come too close together, draining net liquidity.

As a result, the CSRC has often seen fit to freeze IPOs during market slides; in late 2012 it froze IPOs for over a year. Now that markets are rallying strongly, however, there is more liquidity available in the market than new issuers and secondary issuers can tap.

The draft also stipulated requirements for share issuance by foreign companies in China, the newspaper said, without going into details. The move would be a step toward creating an "international board", which China has said it would launch eventually.

Other proposed changes included allowing professionals in the securities industry to trade stocks themselves for the first time, the report said.

Requirements for companies to show profit and earnings sustainability would be dropped, but corporate executives would need clean criminal records for the previous three years, and companies' financial reports should not have been rejected by qualified accounting firms during that time, the newspaper said.

The amendments will also add provisions enforcing compulsory corporate cash dividend distribution as part of official efforts to protect the interest of ordinary investors, it said.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产a网站 | 99精品在线免费观看 | 日本不卡在线一区二区三区视频 | 国内亚州视频在线观看 | 国产高清在线观看 | 性久久久久久久 | 国内精品一区二区三区最新 | 亚洲综合色就色手机在线观看 | 国产日产欧产精品精品推荐在线 | 国语自产精品视频 | 特黄特色三级在线观看 | 国产性色 | 偷拍视频一区在线观看 | 日韩字幕一中文在线综合 | 精品视频亚洲 | 国内外成人免费在线视频 | 免费韩国美女爽快一级毛片 | 欧美一区二区视频三区 | 操美女大逼视频 | 一区二区三区在线播放 | 欧美另类69xxxxx 视频 | 模特精品一区二区三区 | 91久久亚洲国产成人精品性色 | 久久久久视频精品网 | 国产精品久久国产三级国电话系列 | 国产成人精品三级在线 | 国产精品极品美女自在线看免费一区二区 | 一级黑人 | 日本免费二区三区久久 | 草久在线播放 | 嫩草一区二区三区四区乱码 | 成年女人毛片免费视频 | 草草免费视频 | 成人a视频| 欧美性久久久久 | 国产偷国产偷亚洲高清在线 | 成年人免费的视频 | 成人看片黄a毛片 | 2022国内精品免费福利视频 | 国产一级毛片国产 | 国产乱子伦露脸对白在线小说 |