China widens access to over-the-counter exchanges

China will enlarge and liberalize get entry to to its over-the-counter (OTC) market to all certified small and medium-sized firms (SMEs), the Chinese language State Council introduced Saturday. The China Securities Regulatory Rate, performing underneath guidance from the State Council, will put off approval ways for applicant companies with 200 or fewer shareholders. The transfer to ease access to the OTC market, which makes a speciality of facilitating personal placements in smaller Chinese language corporations, follows announcements that regulators will permit China's IPO market to re-commence in early 2014. China's main OTC market was firstly launched in Beijing in 2006, with spherical 200 corporations buying and promoting on the platform, after which elevated to Shanghai.