China will switch to a “registration system” for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes to the Securities Law. A registration system – used in mature markets such as the United States, where the market decides who gets to list, when, and for how much – will obviate the China Securities Regulatory Commission’s (CSRC) role as the approval agency, industry sources say, and leave companies to register with stock exchanges to float shares.