CSRC reviews first GEM applicants

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The Chinese Securities Regulatory Commission meets today to review companies aspiring to be listed on the Growth Enterprise Market Board.

The meeting will review the first batch of seven enterprises, as they aim to raise a total of 2.2 billion yuan in the market. The CSRC will publish the companies' IPO prospectuses on its website to ensure the process is transparent. If passed, the first batch of companies could be listed as early as October.

The regulator says it has so far received a total of 155 IPO applications to list on the NASDAQ-style board, 149 which have been accepted. Most of the applications came from the non-public sector.