Editorial: China’s IPO Reform: Many a Little Makes a Mickle

After a four-year pilot program, China has accelerated reform of the registration-based IPO system. Authorities including the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) sought public comments on 39 regulations concerning the system’s implementation. Rich reform programs have been proposed, including a plan to introduce the system to the main boards of the SSE and SZSE, which has drawn the most attention.