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China wants to suspend new IPOs to stabilize the stock markets

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SHANGHAI (Reuters) – China has suspended new initial public offerings (IPOs) to stabilize falling stock markets, the Wall Street Journal reported on Saturday, citing unidentified sources.

The decision was made at a meeting held earlier in the day attended by representatives of the Cabinet, the central bank, the securities regulator and other financial authorities, the report said.

(Reporting by Kazunori Takada; Editing by Kevin Liffey)

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