China to streamline startup refinancing rules -report
The America's Cup trophy is seen at the NASDAQ marketsite in New York June 30, 2010. REUTERS

China's securities regulator plans to review refinancing rules for companies listed on the Nasdaq-style ChiNext board, the official Securities Times reported on Friday.

The China Securities Regulatory Commission (CSRC) will meet to discuss the planned revisions, which aim to streamline procedures for small-scale refinancing by ChiNext companies, the Securities Times reported, citing a source it described as authoritative.

The CSRC is confident of implementing the new rules in 2011, the newspaper said.

The ChiNext board is part of the Shenzhen Stock Exchange, the smaller of the mainland's two exchanges, which focuses on small- and medium-sized companies.

Shenzhen experienced an unprecedented initial public offering (IPO) boom last year, easily raising more money than the bigger Shanghai exchange.

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