久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

IPO reform draft expected to be finished as soon as this month

By Zhao Yinan (China Daily) Updated: 2015-12-10 07:13

IPO reform draft expected to be finished as soon as this month
The legal procedure for registration-based initial public offerings is expected to be completed as early as the end of this month, a substantial step to wrap up the biggest reform of China's stock market.

An executive meeting of the State Council, presided over by Premier Li Keqiang on Wednesday, discussed a draft amendment to the country's Securities Law that proposed changing the current approval-based IPO mechanism to a registration-based one at the Shanghai Stock Exchange and Shenzhen Stock Exchange. The change would occur within two years of the draft's approval.

At the earliest, the draft could pass the country's top legislature at the end of this month to finish the required legal procedures that are a precondition to any changes being made to the IPO system, experts said.

Following legislative approval, related government organs will work out detailed regulations regarding the implementation of the new IPO system and the supervision required after the listing, according to a statement released after the State Council meeting.

The move, considered one of the most important reforms of China's stock market to ease the funding difficulties of companies, has been pushed ahead in the wake of the summer's capital market turbulence, which wiped out nearly 40 percent of market value.

Under current regulations, approvals from the China Securities Regulatory Commission, the country's top securities watchdog, are requested before any new share sales are made.

The modification of the IPO system is part of a more comprehensive draft of the securities code that was proposed to the top legislature in April. However a second reading of the draft was postponed after April's reading due to the summer market rout.

"The launch of the new IPO mechanism will be a gradual process. It will lead to better integration of the Chinese equities market with the global market and international practices. It will also create substantial business opportunities for both domestic and foreign underwriters," said a banker from a Swiss bank who requested anonymity.

Liu Junhai, a civil and commercial law professor at Renmin University of China, said the draft amendment proposed on Wednesday indicates the eagerness of the government to push ahead the IPO reform to ease the funding difficulties of companies.

"The new share sale mechanism should bear one of the core values of the Securities Law, which is to protect the interest of smaller investors. A more market-driven IPO system means greater responsibility of the brokerages when they carry out due diligence for share issuance," Liu said.

Details of Wednesday's draft have not been released, but in the April draft, the review and approval power will be delegated from the CSRC to bourses, to simplify procedures.

The April draft proposes that once a company has received consent for registration from the bourses, their documents will be transferred to the CSRC for final registration, which will be completed within 10 days.

Li Xiang contributed to this story.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 怡红院最新免费全部视频 | 久草勉费视频 | 国产精品视频久久久久久 | 亚洲一区二区三区高清 | 狠狠色丁香婷婷综合小时婷婷 | 男女男精品视频免费观看 | 一区二区三区四区五区六区 | 成 人 动漫在线观看网站网站 | 真实国产乱子伦高清 | 欧美多人三级级视频播放 | 国产精品一在线观看 | 在线 | 一区二区三区四区 | 亚洲一区三区 | 99秒拍福利大尺度视频 | 久久免费视频6 | 97在线国产视频 | 99国产精品视频久久久久 | 国模午夜写真福利视频在线 | 亚洲成人免费在线观看 | 国产一区自拍视频 | 二区三区在线观看 | 福利视频美女国产精品 | 久久视频在线观看免费 | avtt加勒比手机版天堂网 | 99精品免费在线 | 亚洲一区欧美二区 | 亚洲高清国产一线久久 | 亚洲黄色性视频 | 成人网18免费视频 | 美女把张开腿男生猛戳免费视频 | 成人免费福利片在线观看 | 极品精品国产超清自在线观看 | 亚洲国产成人久久午夜 | 欧美成人短视频 | 国产精品亚洲一区二区三区 | 亚洲欧美视频一区二区三区 | 亚洲精品久久久久久久网站 | 在线精品免费观看综合 | 欧美久久一区二区 | 国产日韩亚洲不卡高清在线观看 | 国产亚洲精品一区久久 |