China Completes Rollout of New IPO System With Inclusion of Main Boards in Shanghai, Shenzhen

China officially expanded a registration-based IPO system to the nation’s two biggest stock boards in Shanghai and Shenzhen on Friday, giving markets and investors a bigger say in deciding the value of companies seeking to raise funds.

The new system, the draft rules of which were first published on Feb. 1, will simplify listing requirements, ensure strict information disclosure, be effective in preventing risks and set out different requirements for IPOs on different boards, the China Securities Regulatory Commission (CSRC) said Friday.