Member Article

On February 1, 2023, the China Securities Regulatory Commission ("CSRC") started soliciting public feedback on the draft Administrative Measures for the Registration of Initial Public Offerings ("Draft Administrative Measures") and other major rules of the registration-based share offering scheme. On the same day, the Shanghai Stock Exchange ("SSE"), the Shenzhen Stock Exchange ("SZSE"), the Beijing Stock Exchange ("BSE"), the National Equities Exchange and Quotations ("NEEQ"), the China Securities Depository and Clearing Co., Ltd and the China Securities Finance Corporation Limited all published relevant papers for public consultation (click here to download the foregoing draft rules and papers). This marks the official launch of the across-the-board registration-based share offering reform in China's capital market after the pilot programs on SSE's STAR Market, SZSE's ChiNext and BSE in 2019, 2020 and 2021 respectively.