A significant number of companies in China have abandoned their IPO plans this year as the China Securities Regulatory Commission (CSRC) tightens listing regulations amid a down market. A total of 47 firms have withdrawn their IPO applications from Chinese stock exchanges to date, a stark increase from the 29 withdrawals seen in the same timeframe last year. This shift comes under the leadership of CSRC’s new chairman, Wu Qing, who has introduced stricter oversight, including soliciting regulatory feedback and imposing fines for fraudulent listings. These measures aim to rebuild investor confidence as major market indices hover near five-year lows. With intensified scrutiny and the imposition of severe penalties for accounting fraud, the CSRC seeks to ensure a higher quality of IPOs, moving away from the quantity-focused approach of previous years.