China has no timetable to reopen IPO approvals

 　　BEIJING, Feb. 28 (Xinhua) -- The government has no plan to start approving IPOs again, sources from the China Securities Regulatory Commission (CSRC) said Thursday.

　　A CSRC official who declined to be named made the remarks at a news briefing, dismissing speculation¹ that the commission may reopen approvals of initial public offering (IPO) in April.

　　Many Chinese investors² have blamed the CSRC for approving too many IPOs and turning the capital market into a place where companies, some of which have manipulated their financial reports, can amass³ great wealth overnight.

　　The CSRC seldom made IPO approvals after June last year. No companies have become listed over the last four months.

　　But companies are still eager to issue IPOs. Nearly 900 companies were waiting to get IPO approval as of February, according to CSRC figures.

　　To tackle the problem, the CSRC asked the broker⁴ agencies of all IPO applicants⁵ last December to inspect applicants' financial status and file reports to the commission before March 31.

　　The CSRC said it will conduct selective inspections⁶ based on the reports.

　　Many companies have since canceled their IPO applications, according to the CSRC.

　　Broker agencies who fail to follow the CSRC's orders may face penalties.

　　The commission said Wednesday that it plans to revoke⁷ three agencies' licenses⁸ for failing to discover financial manipulation committed by their clients.

　　In 2010, Yunnan Green-Land Biological Technology Co. was found to have exaggerated its assets and operating revenues when it launched its IPO.

1 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 amass   

vt.积累，积聚

参考例句：

• How had he amassed his fortune?他是如何积累财富的呢？
• The capitalists amass great wealth by exploiting workers.资本家剥削工人而积累了巨额财富。

4 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

5 applicants   

申请人，求职人( applicant的名词复数 )

参考例句：

• There were over 500 applicants for the job. 有500多人申请这份工作。
• He was impressed by the high calibre of applicants for the job. 求职人员出色的能力给他留下了深刻印象。

6 inspections   

n.检查( inspection的名词复数 )；检验；视察；检阅

参考例句：

• Regular inspections are carried out at the prison. 经常有人来视察这座监狱。
• Government inspections ensure a high degree of uniformity in the standard of service. 政府检查确保了在服务标准方面的高度一致。 来自《简明英汉词典》

7 revoke   

v.废除，取消，撤回

参考例句：

• The university may revoke my diploma.大学可能吊销我的毕业证书。
• The government revoked her husband's license to operate migrant labor crews.政府撤销了她丈夫管理外来打工人群的许可证。

8 licenses   

n.执照( license的名词复数 )v.批准，许可，颁发执照( license的第三人称单数 )

参考例句：

• Drivers have ten days' grace to renew their licenses. 驾驶员更换执照有10天的宽限期。 来自《现代汉英综合大词典》
• Jewish firms couldn't get import or export licenses or raw materials. 犹太人的企业得不到进出口许可证或原料。 来自辞典例句