China publishes draft rules on broadening its registration-based IPO system

China publishes draft rules on broadening its registration-based IPO system

A sign for STAR Market, China's new Nasdaq-style tech board, is seen before the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/Stringer

China published draft rules on Wednesday to broaden the registration-based initial public offering (IPO) system, marking a big step towards reforming the world’s second-biggest stock market.

Expanding the US-style IPO mechanism to all corners of China‘s stock market will speed up listings and corporate fundraising, as Beijing seeks to revive a COVID-ravaged economy.

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