China plans to phase in stock issuance registration system of all IPOs in the future, and establish a normalized stocks de-listing mechanism, according to a special government meeting on Saturday.
At the special meeting of the Financial Stability and Development Committee of the State Council, presided over by Vice Premier Liu He, the need to roll out more solid steps in the reform and opening up of financial systems was highlighted.
This includes the need to enhance the primary functioning of the capital market, fully implement a stock issuance registration system, establish a normalized de-listing mechanism and continuously increase the proportion of direct financing via the capital market.
The meeting also emphasized the need to improve the fair competition review mechanism, to strengthen law enforcement in overseeing anti-monopoly and unfair competition cases, and to enhance comprehensive market supervision capabilities.
The meeting also called for a "zero tolerance" approach to all violations of laws and regulations and stressed the importance of preventing financial risks and maintaining financial stability in China.