China's securities regulator pledges efforts to support Shenzhen reforms

BEIJING - China's securities watchdog has vowed more efforts to optimize the service function of the ChiNext board and support deeper reforms of the Shenzhen Stock Exchange.

"Greater efforts will be made to support the Shenzhen Stock Exchange in deepening reforms and building a quality innovative capital center and a world-class exchange," Yan Qingmin, vice chairman of the China Securities Regulatory Commission (CSRC), said at a press briefing Sunday.

As of Oct 15, the ChiNext board had accepted 414 initial public offerings (IPOs) applications since registration-based IPOs debuted on the board on Aug 24, said Yan.

Among them, 93 have been approved by the Shenzhen Stock Exchange, and 36 have been listed.

China has drawn a plan to implement pilot reforms in Shenzhen to build the city into a showcase of socialism with Chinese characteristics in the next five years.

The city, granted greater autonomy in the reform of important areas and key links, will advance higher-level reform and opening up toward larger goals, according to the plan for the 2020-2025 period.