The China Securities Regulatory Commission (CSRC), recently issued the 2020 work Plan outlining four tasks: First, to implement the newly-amended Securities Law.Second, to formulate three supporting rules for the registration based IPO system reform of the ChiNext Market, which is expected to be rolled out within the year. Third, to strengthen the rule of law and law-based administration. Fourth, to further develop the capital market and regulate the behaviors of market entities. The CSRC said that it would promulgate regulations this year ordering firms that committed fraudulent listing to buy back the shares floated in the market. Regulatory scrutiny is set to gather pace. Market statistics indicate that the CSRC has initiated at least seven investigations against information disclosure violations since last month.
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