Following a spate of criticism, the securities regulator vows to push forward with registration-based public offerings, reports Xie Yu from Shanghai

The China Securities Regulatory Commission should review its flawed IPO reforms and take corrective action before the next listing wave crushes an already shaky equity market, investors and analysts agree.

"It is clear that the IPO reform of the CSRC has met setbacks. And the stock market will plunge further if the problems are not addressed," said Oliver Meng Rui, a professor of finance and accounting at the China Europe International Business School.