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Registration-based initial public offerings

股票公开发行注册制(gupiao gongkai faxing zhucezhi)

The State Council, China's Cabinet, passed a draft document for reform of stock market listings on Wednesday. According to a statement issued after a meeting presided over by Premier Li Keqiang, the draft amendment to the country's Securities Law proposes changing the current approval-based system for initial public offerings on the Shanghai Stock Exchange and Shenzhen Stock Exchange to a registration-based system.