Quality drive puts brakes on IPOs

Only 51 applicants out of 96 receive regulator's green signal in the Jan-May period

The stock-market regulator's approval rate for initial public offering or IPO applications plunged in the January-May period as quality-oriented tighter regulations took effect, experts said.

Out of 96 IPO applications received from Jan 1 to May 17, only 51, or 52 percent, were approved by the China Securities Regulatory Commission.