IPO Reform Deadline to Be Pushed Back Two Years
China’s top securities regulator plans to prolong its preparation for a shift from an approval-based stock listing system to a registration-based one.
According to a proposal submitted Friday to the Standing Committee of the National People’s Congress by committee member and China Securities Regulatory Commission (CSRC) Chairman Liu Shiyu, the period during which the country’s State Council will be allowed to make preparations for the shift will end on Feb. 29, 2020 — two years after the original deadline of Feb. 28 this year.
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