Shanghai and Shenzhen Exchanges Lay Groundwork for Registration-Based IPOs

What’s new: More than two years after China first introduced the rules for registration-based IPOs, the Shanghai and Shenzhen stock exchanges are laying the groundwork for a roll-out across the A-share market.

The two bourses recently proposed updated rules governing listed companies and new listings. The rules ask intermediaries to serve as “watchdogs,” update corporate governance requirements, and encourage companies to disclose information more effectively.