FINANCE

IPO Reform Deadline to Be Pushed Back Two Years

By Liu Caiping, Huo Kan and Teng Jing Xuan

China Securities Regulatory Commission Chairman Liu Shiyu says that preparations for planned reforms to the country's initial public offering system needs to be extended to 2020 because many issues still need to be resolved. Photo: VCG

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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