BEIJING – China's top securities watchdog has approved the initial public offering (IPO) applications of three companies.

Zhangjiagang Elegant Home-tech Co, Ltd, Chengdu Tianjian Technology Co, Ltd and TJK Machinery (Tianjin) Co, Ltd will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.

It did not specify the total amount of funds to be raised.

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The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to one based on registration.

The securities regulator has also given the nod to the IPO registration of one company on the science and technology innovation board.

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Hunan Nucien Pharmaceutical Co, Ltd will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market.

The STAR market, inaugurated in June last year and designed to support companies in the high-tech and strategic emerging sectors, eases the listing criteria but adopts higher requirements for information disclosure.