China cuts red tape for securities listings

Beijing

CHINA'S securities regulator is scrapping approvals for new exchange-product listings, signalling accelerating efforts to cut administrative red tape before planned reforms of initial public offerings (IPOs).

New securities products can be listed on stock or futures exchanges without the endorsement of the China Securities Regulatory Commission (CSRC), according to a statement on the website of the State Council, or Cabinet. The revision or termination of futures contracts and bond sales on the interbank market will no longer need regulatory endorsement, the Cabinet noted.