Regulation of Initial Public Offering of Shares in China

China Law, Vol. 76, pp. 54-65, 2009

14 Pages Posted: 17 Aug 2009 Last revised: 30 Apr 2014

See all articles by Jiangyu Wang

Jiangyu Wang

City University of Hong Kong (CityUHK) - Centre for Chinese & Comparative Law

Date Written: February 15, 2009

Abstract

The regulation of public offering of shares adopts a merit-based model. This short essay provides a comprehensive examination of the legal framework of initial public offering of shares in mainland China, focusing on the required substantive and procedural conditions, the sponsorship system, the underwriting system, the price consultation system, as well as the role of the China Securities Regulatory Commission (CSRC), which is the principal regulator of China's securities markets, in the IPO process. Readers are advised that a few changes have been brought to the IPO law after this paper was published in 2009 but the spirit of the merit-based model remains intact.

Keywords: IPO, securities regulation, securities markets, corporate finance law, China

JEL Classification: K22

Suggested Citation

Wang, JiangYu, Regulation of Initial Public Offering of Shares in China (February 15, 2009). China Law, Vol. 76, pp. 54-65, 2009, Available at SSRN: https://ssrn.com/abstract=1382577

JiangYu Wang (Contact Author)

City University of Hong Kong (CityUHK) - Centre for Chinese & Comparative Law ( email )

83 Tat Chee Avenue
Room P5300, 5th Floor, Academic 1
Kowloon Tong
Hong Kong
34427026 (Phone)

HOME PAGE: http://www.cityu.edu.hk/slw/people/people_wang_jiangyu.html

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