Registration-based IPOs likely this year

Necessary amendments to Securities Law are being worked out, says Shanghai bourse official

The registration-based system for initial public offerings, a key driver of the nation's capital market reform, is likely to be implemented this year and the Shanghai Stock Exchange is getting ready to handle the responsibility, the bourse's Chairman Gui Minjie said on Friday in Beijing.

Gui, also a member of the National Committee of the Chinese People's Political Consultative Conference, said the reform will be achieved after the National People's Congress amends the Securities Law. Expectations are that the process would be completed this year, he said.