BUSINESS China's securities regulator pledges efforts to support Shenzhen reforms

BUSINESS

China's securities regulator pledges efforts to support Shenzhen reforms

Xinhua

09:27, October 19, 2020

Photo taken on Aug. 24, 2020 shows the Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province. (Photo: Xinhua)

BEIJING, Oct. 18 (Xinhua) -- China's securities watchdog has vowed more efforts to optimize the service function of the ChiNext board and support deeper reforms of the Shenzhen Stock Exchange.

"Greater efforts will be made to support the Shenzhen Stock Exchange in deepening reforms and building a quality innovative capital center and a world-class exchange," Yan Qingmin, vice chairman of the China Securities Regulatory Commission (CSRC), said at a press briefing Sunday.

As of Oct. 15, the ChiNext board had accepted 414 initial public offerings (IPOs) applications since registration-based IPOs debuted on the board on Aug. 24, said Yan.

Among them, 93 have been approved by the Shenzhen Stock Exchange, and 36 have been listed.

China has drawn a plan to implement pilot reforms in Shenzhen to build the city into a showcase of socialism with Chinese characteristics in the next five years.

The city, granted greater autonomy in the reform of important areas and key links, will advance higher-level reform and opening up toward larger goals, according to the plan for the 2020-2025 period.

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