China cuts IPO red tape as new securities law takes effect

Beijing (AFP) – China’s new securities law which simplifies regulations for stock exchange listings and tightens sanctions on insider trading came into force Sunday.The revised legislation, which was adopted at the end of last year, was “a milestone in the country’s capital market reform”, the official Xinhua news agency said.It cuts red tape for initial public offerings, which no longer need prior approval from the China Securities Regulatory Commission (CSRC). Companies are also no longer required to be profitable before listing but must provide precise financial information.Chinese authorit…

Read More