"China halts IPOs and major shareholders’ share sales amid stock market slump"

[Financial News] China’s securities regulator has ordered investment banks to stop underwriting initial public offerings (IPOs), the Financial Times (FT) reported on the 3rd (local time).
Citing three sources, the FT reported that the China Securities Regulatory Commission (CSRC) had met with investment banks in recent days and issued informal guidance, known as “window guidance,” to revive the slumping stock market.
Large-scale share sales by existing shareholders have also been temporarily suspended until the market recovers.
The move came after the CSI 300, China’s benchmark index, plunged 8.5% over October, posting its worst monthly performance in more than a decade.
On the 2nd, Chinese authorities announced measures to stabilize the stock market, including expanding swap operations and improving lending programs for share buybacks. But on the 3rd, the CSI 300 closed down 0.2%, while the tech-heavy STAR 50 Index fell 3.8%.
The volume of IPOs in China this year has exceeded 292 billion yuan (about 58.7 trillion won), the highest level since 2023.
Flash memory maker Yangtze Memory Technologies Co., Ltd. (YMTC) was also expected to go public this year, but remains among the companies that have yet to list.

[email protected] Lee Seok-woo, International Affairs Correspondent Reporter