Why the IPO reforms don't go far enough

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clpstaff &clp articles

A series of reforms should help to restart China's capital markets in 2014. Although the changes are a positive step, they create problems for law firms and leave some serious structural problems unresolved

On November 30, 2013, the State Council promulgated the Guiding Opinions on the Launch of the Pilot Project for Preference Shares (国务院关于开展优先股试点的指导意见) and the China Securities Regulatory Commission (CSRC) promulgated the Opinions on Further Promoting the Reform of the System for Offering of New Shares (中国证监会关于进一步推进新股发行体制改革的意见) (Opinion). The two policies were accompanied by the long-awaited reopening of the Chinese initial public offering (IPO) market, which had been frozen for 14 months.

 

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