Prof. Robin HUANG has recently won a research collaboration grant from Shanghai Stock Exchange for his project entitled ‘Registration Reform for IPO and Information Disclosure’. Going through a very competitive application process, the research team features a strong group of researchers from Hong Kong, Singapore and Mainland China.
China has recently established the Science and Technology Innovation Board (known as STAR market) in Shanghai Stock Market, in an effort to attract the listing of companies that possess new, critical technology in line with national strategy. The STAR market introduces a fundamental reform for IPO, transferring from the decades-old merits-review regime to the registration (or disclosure-based) regime. In line with China’s overall trail-and-error reform strategy, the registration reform is intended to be an experiment, and if successful, will be expanded to the Chinese securities market as a whole. Hence, the project aims to provide advice to ensure the success of the reform, which will likely have far-reaching implications.