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SHANGHAI-China on Saturday released a set of rules for the newly established Beijing Stock Exchange, bringing it one step closer to the market’s official launch.
The exchange was launched last month in the Chinese capital, to complement two other exchanges in the business center of Shanghai and the southern city of Shenzhen.
The rules, released after a public consultation by the CSRC, are intended to regulate public offerings, information disclosure and corporate governance for the exchange in Beijing. They will take effect on November 15.
Late Friday, the CSRC released draft guidelines that will require higher quality information in companies’ prospectuses under China’s registration-based IPO system, on which the Beijing Stock Exchange will be based.
Shanghai’s tech-heavy STAR market and Shenzhen’s start-up board ChiNext have also adopted a registration-based IPO mechanism in the US, giving the market a greater role in evaluating and pricing IPOs.
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