No timetable for domestic IPO resumption

The China Securities Regulatory Commission said Saturday it has no timetable for letting companies resume domestic share issues, state media reported. The regulator suspended approvals for mainland IPOs in April last year to reduce pressure on stock prices as it embarked on a share reform plan aimed at reducing US$250 billion in state holdings in listed firms. A resumption of issues to domestic investors could hit the market with billions of dollars of stock just as it stages a recovery from a long decline that followed its 2001 peak.