The China Securities Regulatory Commission (CSRC) plans to review and revise refinancing rules for Chinese companies listed on the ChiNext board, Reuters reported, citing a report in the Securities Times. CSRC will meet soon to discuss planned revisions which aim to streamline procedures for small-scale refinancing by companies listed on the ChiNext board, which is part of the Shenzhen Stock Exchange. The Shenzhen Stock Exchange focuses on small and medium-sized companies; ChiNext is focused on small startups. The Shenzhen exchange saw a surge in initial public offerings last year, surpassing IPOs on the much larger Shanghai Stock Exchange. However, the average company listed on ChiNext performed poorly in terms of year-on-year profit growth compared to firms listed on other mainland exchanges.
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