By SUN Yizhen
A generational shift in the history of China’s stock market took place Monday, when the first 10 stocks to debut under the new registration system went to market.
All ten new stocks opened strongly with none falling below their issue price. Three were up over 100 percent: CEC Port rose 221 percent, toothpaste maker Dencare was up 174 percent, and Both Engineering Technology rose 110 percent.
YANG Delong, Chief Economist at First Seafront Securities, said China is now in sync with global practice on new stocks.
“The new stocks did not fall short on their first day, exceeding market expectations, which demonstrates the success of the registration reform,” said Yang.
YI Huiman, chairman of the China Securities Regulatory Commission, said that practice has proved that the registration system reform is a fundamental and far-reaching change that affects the overall capital market.
