Key issues involved in the IPO reforms

What's the point of pushing forward the registration-based IPO reforms?

Experts say that the new system will help China's equity market become more liberalized, market-driven, and balanced in terms of supply and demand. The existing approval-based IPO system was seen as limiting the supply of new shares, which are often in great demand, causing an imbalance that leads investors to speculate for short-term return and discourages rational, long-term investment. They say registration-based IPO reforms will balance supply and demand for shares, and optimize capital allocation, helping China's equity market to develop more healthily.

What changes will the registration-based system bring to China's stock market?