Draft norms for listing unveiled

China's securities regulator on Friday released the draft guidelines for listing reforms for public feedback.

"The reform will be implemented in stages and four measures would be taken in the first stage. The IPO market will be resumed when the new listing scheme comes out," said the spokesman for the China Securities Regulatory Commission (CSRC).

According to the draft, the four measures include improving price inquiry and subscription, limiting the subscription channels to either Internet or through agents (earlier institutional investors were permitted to use both subscription channels), setting the maximum subscription amount for each investors that subscribe on the Internet and highlighting the risks for investors.