# Reform of capital market deepened

With the establishment of the Beijing bourse and the improvement in both quality and quantity of companies' initial public offerings (IPOs), China's capital market saw remarkable development in 2021.

Regarding the reform in 2022, EY observes that China will promote the implementation of the registration-based IPO system, carry out reform on the investment side, improve the supervision mechanism for capital in core sectors and continue facilitating mutual openness for capital.