The Securities Supervision Commission seeks public opinions on amending some provisions of the Measures for the Administration of Securities Issuance and Underwriting

On June 19, 2024, the Securities Supervision Commission issued the "Eight Measures on Deepening the Reform of the Science and Technology Innovation Board to Serve Scientific and Technological Innovation and the Development of New Quality Productive Forces", which proposed to carry out the pilot program of deepening the issuance and underwriting system. In the pilot program of the Science and Technology Innovation Board, the offline investment institutions with a higher lock-up ratio and a longer lock-up period for the public offering of shares of unprofitable enterprises will be increased accordingly. In order to implement the "Eight Measures", the Securities Supervision Commission plans to amend the "Measures for the Administration of Securities Issuance and Underwriting" and authorize the stock exchange to formulate specific requirements for classified placement. At the same time, according to the amendments to the "Company Law" and the "Interim Measures for the Administration of the Reduction of Shares by Shareholders of Listed Companies", the relevant provisions will be