CSRC announces new IPO rules

The China Securities Regulatory Commission (CSRC) announced that it wants to increase the number of shares available for trading as part of a new set of rules on new-share offerings, the Wall Street Journal reported. The rules follow a draft published on May 22, in which the CSRC sought market opinion, and which fueled expectations that initial public offerings would be permitted to resume in China. The CSRC has imposed an unofficial moratorium on IPOs since September out of worry that new supply could hurt valuations of existing shares. The CSRC said that the newly modified rules are intended to boost the market’s role in pricing new shares. Regulators will "seek appropriate time to adjust the share-offering policy to increase the quantity of tradable shares," the regulator said.