Four-member Forum The roll-out of the registration system will not be a step-by-step one, which is in fact a statement of short-term expected management. And then, we still have a long way to go in terms of trading systems, market systems, regulatory systems and appropriate investor management. Now! Today, the President of the State, in his keynote speech at the opening of the meeting, announced that “constructions and pilot registration systems will be established on the Shanghai Stock Excha...