BEIJING, Dec. 10 (Xinhuanet) -- China is to introduce a new pricing system for initial public offerings (IPOs) also known as an IPOS inquiry system, as from Jan. 1, 2005, China Securities Regulatory Commission (CSRC) announced here Friday.

    According to the system, firms launching IPOs will have to inquire about share prices among institutional investors and the final IPO price will be decided on the result of the inquiry.

    Stock issuers and sponsors should also submit relevant reports to offer evaluation of the prices.

    The new system, introduced from overseas markets, is supposed to give investors more say in the pricing process and better protect investors' interest by presenting to them more factual financial figures of the listing applicants. Enditem