CSRC moves to improve multi-level equity financing

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Chinese citizen watching stock information at a Beijing open-to-the-public municipal access market trading exchange room facility during a stock market index decline in China. Photo: iStock

The China Securities Regulatory Commission aims to increase the proportion of direct financing and promote the development of a healthy multi-level capital market, said Xuan Changneng, an assistant with the CSRC, Shanghai Securities Journal reported.

Yuan pointed out that the CSRC will keep improving the multi-level equity financing system, so as to help enterprises in de-leveraging and reducing costs.

At the same time, the administration will optimize the IPO review mechanism, so as to accelerate the process of going public.

The average IPO period has been shortened to 15 months, compared to the previous review period of 3 years.

However, public companies’ excessive financing behaviours will be dampened, the report added, as the administration guides the flow of capital into the real economy.

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