1. Ten Chinese companies have completed the required initial public offerings (IPOs) preparation and will go public soon, China's securities regulator said Friday. The China Securities Regulatory Commission said in a statement that the 10 companies had their IPOs called off in July in the wake of a stock market rout that began mid-June.
2. The China Securities Regulatory Commission (CSRC), the top securities regulator, on last Friday said two companies' applications to make initial public offerings (IPO) on the Shanghai and Shenzhen bourses have passed its review. The two companies are First Capital and Beijing E-techstar Co.
3. China issued a guideline to boost share transfer system for small- and medium-sized enterprises (SMEs), the Securities Regulatory Commission (CSRC) said on Friday. The guideline called for the transferring of companies listed on the New Third Board, an over-the-counter market for SMEs, to the ChiNext Index, China's NASDAQ-style board of growth enterprises. To enhance financing, China will improve the stock issuance system and ease control over shareholders.
4. China's public funds will be allowed to invest in stocks of companies quoted for trading on the National Equities Exchange and Quotations (NEEQ), also known as China's Over-The-Counter (OTC) stock market, said Zhang Xiaojun, a spokesperson of the securities regulator, on Friday. According to guidelines on promoting development of China's Over-The-Counter (OTC) stock market published by the China Securities Regulatory Commission (CSRC), the top securities regulator, on Friday, the current system arrangements on the OTC stock market will be further improved and optimized, including introducing market-maker approach for share transfer on the market, said Zhang. The guidelines also stipulate that the OTC stock market will implement an internal classification system for companies listed on the market, he said. At present, these companies are only classified into two layers, namely basic companies and innovative companies, he added.
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