Yi Huiman, chairman of the China Securities Regulatory Commission, addresses the launching ceremony of the sci-tech innovation board of the Shanghai Stock Exchange at the Lujiazui Forum in Shanghai, east China, June 13, 2019. (Xinhua/Fang Zhe)
BEIJING, April 11 (Xinhua) -- China Securities Regulatory Commission (CSRC), the country's securities regulator, will press ahead with stable implementation of the full-scale registration-based initial public offering (IPO) reform in the country, reported Xinhua Finance citing Yi Huiman, chairman of the CSRC, on April 9.
Yi said these on Saturday at a meeting to facilitate development of listed companies, saying that CSRC will take advantage of the registration-based IPO reform to boost implementation and functioning of key reform tasks in a bid to further optimize the rules, ecology and functions of capital market.
The CSRC chairman stressed supports to science and technology innovation, saying that CSRC will foster high level circulation of science and technologies, capital and industries through greater adaptability of issuance and listing, refinancing, and M&A basic rules to sci-tech innovation, well functioning of the strategic supporting role of private equity funds and venture capital to innovation, and optimization of financing supporting mechanisms of bond market to sci-tech enterprises.
CSRC plans to speed up efforts to roll out new pragmatic opening up measures, expand the scale of investment targets under the Shanghai-Hong Kong and Shenzhen-Hong Kong stock connect schemes, expand and optimize the Shanghai-London stock connect mechanism, steadily enlarge the two-way opening of commodity and financial futures markets and enrich supply of related internationalized products, according to Yi.
CSRC will also push forward in a faster pace implementation of new regulatory and supervisory rules on overseas securities issuance and listing by companies in China and keep the channels for them to list overseas unimpededly, he added.
The CSRC head also said that pragmatic cooperation between capital markets in the Chinese mainland and Hong Kong Special Administrative Region will be further strengthened to help facilitate the role of Hong Kong as one of the global financial centers. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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