The Reform of China's Capital Markets in 2023 and Outlook in 2024

February 14, 2024 | BY

Susan Mok

Gao Wei and Kuang Peizhu of Haiwen & Partners review the key developments in China's capital markets in 2023, which included a seismic shift in regulation, and examine - with cautious optimism - the outlook for 2024

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Summary

  • In the first part of 2023, a full-scale, registration-based reform of China's IPO system reform took place, and this was consolidated later in the year
  • There is now a clear delineation of responsibilities among China's various exchanges
  • The core regulatory logic has also been transformed, with a shift to putting information disclosure at the core, with market participants given decision-making power
  • Later in the year, a series of measures were introduced in an effort to boost the domestic capital markets, there was a focus on domestic companies seeking