Yi Huiman: Neither tightening nor easing of IPOs
June 10,2021

  Yi Huiman, Chairman of the China Securities Regulatory Commission (CSRC), attended the opening ceremony and the first plenary session of the 13th Lujiazui Forum (2021). He delivered a keynote speech on the reform of the STAR Market, and responded to hot topicsof market interest, including the pace of IPOs and overseas listing.

  Speaking ofthe STAR Market, which was officially launched during the Lujiazui Forum two years ago, Yi notedthat the reform has basically produced good results and beenin line with expectations. First, the STAR Market has begun to show a demonstration effect of supporting "hardcore science and technology". Second, it has served as a "testing ground" for reform measures. Third, the market has generally been running smoothly.

  As forthe view that IPOs have been tightened, Yi responded that new listings have neither been tightened nor relaxed.Of course, when it comes to the pace of IPOs, weneed to take into accountmarket capacity, liquidity and the coordinated and balanced development of the primary and secondary markets so as to fosteran IPO eco-system that meets market expectations.

  In response to the issue of overseas listing, Yi said that we have been open to enterprises’ choice oftheir place of listing. Selecting a suitable listing place is an independent actiontakenby enterprises based ontheir own development needs. The CSRC will effectively manage the relationship between openness and safety.The prerequisite for enterprises to get listedabroad is to comply with the relevant domestic laws andregulatory requirements.