BEIJING (Reuters) - China’s securities regulator said on Friday the stock market would not be “hugely” impacted by an increase in initial public offerings which began last month.
Xiao Gang, the chairman of the China Securities Regulatory Commission, also told an industry conference the market welcomes new IPOs and that there are relatively big inflows of cash coming into the market.
The CSRC began approving two batches of IPOs in April, up from one previously. About 20 IPOs are approved in each batch.
“The shift from one batch of IPOs to two every month won’t have a huge impact on the market,” Xiao said.
Reporting by Zhang Xiaochong and Nick Heath, and Samuel Shen in Shanghai; Writing by Kazunori Takada