--FILE--View of the Shenzhen Stock Exchange building in Shenzhen city, south Chinas Guangdong province, 18 May 2013. China moved closer to ending a 13-month long moratorium on initial public offerings, releasing guidelines on recently proposed fundamental reforms of the way companies raise funds in the countrys stock market. At the same time, China unveiled guidelines on the issuance of preferred stocks, which offers listed firms a fresh channel for funding to shore up capital base, especially listed banks. The long-awaited launch of the IPO reform plan indicates an imminent restart of the countrys IPO market, where more than 760 firms are queuing for a listing. Under the guidelines on further reform of the IPO system, the China Securities Regulatory Commission said it would focus on the review of compliance of IPO plans, while it will let investors and the market judge the value and risks of IPOs. Once a company gets the go-ahead to seek an IPO, the commission said it would allow the market to decide the timing of it and how it works.
