China will advance the system in a gradual and steady manner.

China began enforcing its new Securities Law this month, making it legal to implement a registration-based IPO system. The Shanghai Stock Exchange's Star Market already uses this, and the ChiNext in China will also start gradually using the system based on market tolerance, the China Securities Regulatory Commission said. The ChiNext will likely start using it toward the end of this year or at the start of next year, according to general market consensus.