China to reduce state influence on IPOs

(MENAFN) China may reduce state influence on the stock markets as part of its reform agenda, which includes facilitating listing stocks for companies and making management of state-owned company's more accountable to shareholders, Times of Oman reported. Detailed plans released by the government included a pledge to "push forward stock issuance registration system reform", which hints at a slowdown in government influence in initial public offerings (IPOs). The approval of the China Securities Regulatory Commission (CSRC) is needed to list in China. The reform will be tested if the Chinese government lifts a suspension of new listings in Shanghai and Shenzhen.