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China scraps state-led IPO audits in bid to boost listings

Stock exchanges adopt simpler registration process to promote startups

A bull sculpture is displayed in front of a panel displaying stock information at the Shenzhen Stock Exchange.   © Reuters

SHANGHAI -- The Chinese government will get out of the business of approving initial public offerings and allow stock exchange operators to perform that function just like developed countries in an attempt to promote more listings by startups.

All major exchanges will transition from a licensing to a stock registration format. The IPO application process will be simplified to encourage companies with new technologies or business models to float.

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