Closer Look: CSRC Should Review Its Approvals-Based IPO System

(Beijing）– A recent decision by the Ministry of Environmental Protection to end assessment reviews before a company's initial public offering is seen as a step toward a reform that involves switching from an approval-based listing procedure to one based on better information disclosure.

The need to get approvals from various different government agencies has long been criticized for posing a hurdle to companies seeking a public listing and creating room for "rent-seeking," or corruption.