Chinese regulator looks to boost stock market, open up capital market
Shri Techtex IPO: GMP, subscription status on day 3, and other key details here Earlier this month, Shanghai Securities News reported that the CSRC is working to formulate an action plan for the reform at the investment end of the capital market, to achieve balanced development between investment and financing and direct more medium- to long-term capital to equity investment. The normalization has helped raise Chinese companies' interest in overseas IPOs.19 Chinese companies debuted on the US stock market in the first half of this year, netting $600 million in all.
Without citing actual figures, Li said the number of overseas IPOs and fundraising activities has increased significantly compared to the same period last year. At the conference, the CSRC said it will stick to its supervisory obligations and better implement the three-year action plan to facilitate listed companies' high-quality development.
The plan was rolled out late last year. Listed companies' normalized dividend issuance mechanism should be completed, it said.
The benchmark Shanghai Composite Index shed 0.26 percent on Wednesday while the Shenzhen Component Index closed 0.47 percent lower. (With inputs from agencies)Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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