Setback Said to Spur CSRC to Look for Other Ways to Change IPOs

(Beijing) – The securities regulator is looking for ways to fast track the establishment of a registration-based initial public offering system because its original plan involving revising the law has suffered setback, a source with knowledge of the matter says.

The Standing Committee of the National People's Congress – the body that runs the legislature between its full meetings – had been scheduled to read a draft amendment to the Securities Law in August that would have endorsed a registration-based IPO system, but that plan was shelved after the A-share market tumbled in mid-June.