BEIJING, March 6 -- The China Securities Regulatory Commission (CSRC) has no timetable for letting companies resume domestic share issues, the securities regulator said Saturday, 10 months after the government suspended the deals while it floated US$250 billion State shares.

    A resumption of issues to domestic investors could hit the market with billions of dollars of stock just as it stages a recovery from a long decline that followed its 2001 peak.

    ¡°There's no timetable,¡± Shang Fulin, chairman of CSRC, told reporters when asked when the suspension would be lifted.

    CSRC suspended approvals for mainland IPOs in April last year to reduce pressure on stock prices before embarking on a share-reform plan aimed at reducing State holdings in listed firms.

    Xinhua previously cited CSRC as saying IPOs would resume on the mainland exchanges ¡°at the proper time,¡± without giving further detail.

    Other media reports also said that CSRC was finalizing rules to reopen its mainland market for new share offerings in a bid to boost investor confidence, and big firms will be encouraged to apply.

    ¡°We will encourage the public listing of large-sized enterprises on the domestic stock markets and offer such firms exemptions when they apply for a listing,¡± the reports cited the draft rules as saying.

    The draft regulations do not give a timetable for reopening the IPO market, but analysts say it could be as soon as this month.

    The China Business News also cited investment industry sources as saying that CSRC was drawing up regulations that could raise profit requirements for companies seeking a listing.     

    (Source: Shenzhen Daily/Agencies)