You are here

China securities regulator says no change to ChiNext listings


[SHANGHAI] China's securities regulator said on Friday there will be no change to the Nasdaq-style board ChiNext listing process, a day after speculation a new registration system would be introduced helped trigger a slide of over 6 per cent in the main stock index.

Earlier in the week, rumours circulated among market insiders that the Shenzhen-based ChiNext would halt listings from March 1, making way for a new registration process. Currently, firms have to gain regulator approval to list on both the Shanghai and Shenzhen stock exchanges.

Traders speculated that the main board and another Shenzhen-based market, the small and medium enterprise board, would not be affected. "We strongly condemn these irresponsible and false rumours," said the China Securities Regulatory Commission (CSRC) in a question and answer posted on its official website on Friday.

The CSRC said there were no immediate plans to change the ChiNext listing approval system to a registration-based one.

China's main Shanghai Composite Index tumbled 6.4 per cent on Thursday, posting their biggest one-day loss in a month, hit by rumours including those about the ChiNext market and as investors booked profits after the market's recent rebound.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to