CSRC to delay IPO approvals

The China Securities Regulatory Commission (CSRC) may suspend its reviews of IPO applications for two months as it seeks to contain the hemorrhaging stock market, which registered six-year lows on news that non-tradable state-owned shares worth US$264bn will flood the market, Agence France-Presse reported, citing a China Securities Journal report. With voting on IPO applications by CSR Sifang Locomotive and Rolling Stock Co Ltd already deferred, it is believed that IPOs by the Bank of Communications and Shenhua Energy, China's largest coal miner, may also see delays.