China is stepping up efforts to make its A-share market the preferred listing destination for high-quality domestic companies, said an official at a press conference in Beijing on Thursday.
Li Chao, vice chairman of China Securities Regulatory Commission (CSRC), revealed that in recent years, the country has rolled out a slate of reform measures for the sci-tech innovation board, known as the STAR Market, and the ChiNext board, further enhancing the flexibility and convenience of refinancing, and the effects of the reform have begun to emerge.
Li emphasized that since the beginning of this year, the average review period for IPOs on the Shanghai and Shenzhen stock exchanges has shortened to around six months, and refinancing reviews for some high-quality companies were completed in less than a month.
"Next, we will implement more inclusive mechanisms for issuance, listing, merger and acquisition, and reorganization, and strive to make the A-share market the preferred listing destination for high-quality domestic enterprises," he said.
China steps up efforts to make A-share market preferred listing destination for high-quality firms: official
