Registration system for floats to boost bourses

Gradual steps to ensure smooth transition, say capital market sources

Analysts expect registration-based initial public offerings, the biggest reform ever planned for China's stock market, to be launched as early as the first half of 2016, as legal procedures required for the system are pushed forward.

The legal procedures are expected to be completed as early as the end of this month, after an executive meeting of the State Council on Wednesday discussed a draft seeking authorization from the top legislature to implement registration-based IPO mechanism at the Shanghai Stock Exchange and Shenzhen Stock Exchange.