China has moved to stop “low-quality” companies from listing in Hong Kong as it seeks to slow but not halt an IPO boom.
The China Securities Regulatory Commission (CSRC) has blocked listings by some companies with opaque offshore structures, while stressing that the market remains open for business.
It shows how the regulator has learned from 2015, when a rush of low-quality issues helped to fuel a market bubble, and 2021, when a crackdown on offshore listings hurt the private sector.
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