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China securities regulator says new IPOs should stay cheap

[SHANGHAI] China's stock market regulator said on Friday that the country's coming initial public offerings (IPOs) should be priced cheaply.

The China Securities Regulatory Commission (CSRC), at its weekly press conference, did not issue any new rules or guidelines on how to keep down the pricing of IPOs.

In June, China halted IPOs as regulators tried to stabilise indexes after the country's stock market began to crash. On Nov 6, it said it would reopen the IPO market.

REUTERS