BEIJING, April 27 (Reuters) - China’s central government on Monday approved a scheme for initial public offering (IPOs) reforms on Shenzhen’s start-up board ChiNext, state media reported.
The move will introduce a registration-based IPO system for ChiNext as part of efforts to deepen reforms in China’s capital markets, the official Xinhua News Agency reported.
China first introduced the U.S.-style IPO system in Shanghai’s newly established STAR Market. Currently, Chinese IPOs outside the STAR Market require regulatory approval.
Reporting by Beiing Newsroom