It’s getting tougher for Chinese companies to enter the country’s stock markets as state scrutiny rises.
The listing ceremony of Shenzhen Longtech Smart Control Co., Ltd and Shanghai Hi-Road Food Technology Co., Ltd at the Shenzhen Stock Exchange, December 2, 2020 in Shenzhen, China. Credit: VCG via Getty Images
This was supposed to be a breakout year for China’s stock markets. Buoyed by the post-Covid reopening and newly announced reforms to the way companies list, investors and bankers hoped the country would be a driver of growth while the rest of the world slowed.
Instead, dozens of Chinese companies have canceled their plans for an initial public offering at home — just months after China’s securities regulator had announced major changes supposedly designed to "give the right of choice to
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