China's move this week to streamline stock market listing rules is unlikely to result in a flood of initial public offerings, bankers say, citing the prospect of state intervention on national security and other grounds that would result in delays.
But in reality, bankers say, the IPO process will largely remain at the mercy of authorities, who view stock markets as a tool in a global power struggle and in national rejuvenation: under the new rules, the CRSC's stated role will be to make sure listings are in line with Beijing's broad industrial policy.
More than 30 IPO hopefuls have halted the CSRC registration process, according to public filings, while hundreds have aborted listing plans during the gruelling vetting process by the exchanges in the pilot registration-based scheme.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s IPO reform is boon for VIPsThe securities watchdog will introduce a U.S.-style registration system and other tweaks on the main exchanges. That should help thin out the queue of over 800 firms waiting to go public. Yet Beijing's preference for high-tech sectors implies only certain companies will benefit.
Read more »
China’s False Denial of Violating International Law in South China SeaWith its coast guard’s activities “more robust than ever,” Beijing falsely claims its designs in the South China Sea remain above board.
Read more »
China, Japan discuss concerns over disputed East China Sea islandsChinese Foreign Minister Qin Gang and his Japanese counterpart Yoshimasa Hayashi discussed disputed islands in the East China Sea on Thursday, with both expressing concerns and Qin hoping Japan could stop 'right-wing' provocations.
Read more »
Breakingviews - Europe’s autos have weak defences against ChinaChina has been a golden goose for western carmakers like Volkswagen and BMW . But increasingly it is looking like a threat. Chinese groups like electric vehicle leader BYD , are targeting foreign markets. Europe looks particularly vulnerable.
Read more »
China clashes with Czech Republic over Taiwan overturesCzechia's new president-elect could become the first European head of state to meet Taiwan's leader.
Read more »