Foreign
CHINA’s top securities regulator has said it will strengthen inspections on firms planning Initial Public Offerings (IPOs) in 2024.
The move is in line with a pledge, in March, by China Securities Regulatory Commission (CSRC) Chairman Wu Qing to effectively pursue whole-process supervision in all links, in efforts to nurture a sound capital market.
This is revealed in a CSRC budget report recently published on its website.
According to the report, inspections will be carried out on, at least, 25 per cent of firms planning IPOs in 2024, up from, at least, five per cent in 2023.
Scrutiny over listed companies, bond issuers and companies listed on China’s “new third board” will also be intensified this year, according to the report.
The “new third board,” officially named National Equities Exchange and Quotations, offer small and medium-sized firms a new financing channel with low costs and simple listing procedures. (Zinhua/NAN)
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-April 08, 2024 @ 14:56 GMT|
Tags: Chairman Wu Qing China Securities Regulatory Commission
