Suspension of approving new initial public offering (IPO) on China's Shanghai and Shenzhen bourses is a temporary and necessary measure amid earlier sharp market fluctuation, which will not change the market-oriented reform on China's stock market, said Zhang Xiaojun, spokesperson of the China Securities Regulatory Commission (CSRC), on Friday.
Zhang made the remarks in response to recent market hearsay that the CSRC may postpone IPO registration reform at a routine press conference after market close on Friday.
China should push forward the registration system reform at a gradual and steady pace, Zhang added.
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