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Deepening reform of IPO system most urgent: CSRC

By Li Zhenyu (People's Daily Online)

17:00, June 05, 2012

BEIJING, June 5 (People's Daily Online) -- The China Securities Regulatory Commission (CSRC), China's top securities regulator, recently said in a statement on its website that the most urgent task for the development of China's securities and futures markets in 2012 is to deepen the reform of the initial public offering system.

The 12th Five-Year Plan and the National Financial Work Conference have laid out clear objectives and tasks for the development of securities and futures markets, the top regulator said in the statement referring to the main objectives and tasks for the development of securities and futures markets in 2012.

The statement claimed that it is important to build up a multi-layered capital market, nurture professional investment agencies and intermediaries, and enhance the degree of opening-up in various fields.

The commission will cancel about 40 percent of its administrative approval projects this year, some of which will be assigned to lower-level agencies or merged into one project, according to the statement.

"The most urgent task right now is to deepen the reform of the initial public offering system, and improve the systems of stock issuance, delisting, and dividend payments," said the statement.


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