China toughens rules on IPO information disclosure ahead of broader reform

[SHANGHAI] China's securities regulator on Friday published rules to improve the quality of information disclosure of initial public offerings (IPOs) under the registration-based listing system.

The new guidelines are designed to make IPO prospectuses easier to read and more useful to investors, which will lay a solid foundation for an expansion of the registration-based IPO system, the watchdog said.

The US-style IPO system currently applies to Shanghai's STAR Market, and Shenzhen's ChiNext.

The China Securities Regulatory Commission (CSRC) has said it plans to expand that system to include main boards as well this year. REUTERS