China will eliminate approval requirements for initial public offerings within two years, as it seeks to ease the logjam that has led to multi-year equity fundraising queues.
Streamlining the IPO process is seen as crucial to improving capital allocation by allowing promising young companies to raise capital more easily. China’s bourses are still largely populated by state-owned companies whose political connections helped them to navigate the listing process.
Some 674 companies were awaiting IPO approval as of earlier this month, according to a list published by the China Securities Regulatory Commission, which handles the process.
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