Latest News:  
Beijing   Overcast/Thundershower    27 / 20 ℃  City Forecast

English>>China Business

CSRC prioritizes IPOs of W. China firms

(Xinhua)

08:07, August 14, 2012

China's securities regulator has given priority to enterprises from the country's western regions that are seeking approval for initial public offering, according to the China Securities Regulatory Commission.

The move, starting from this month, aims to promote the development of the country's western regions, especially in regards to the real economy, China Securities Journal reported Monday, citing sources from the CSRC.

Enterprises from western regions that are applying for an IPO on the Shanghai or Shenzhen markets will be specially labeled, according to the CSRC.

Currently, 129 enterprises nationwide are seeking approval to list in Shanghai, while 629 are applying for IPOs in Shenzhen, according to the CSRC's announcement on Aug 10.

However, the CSRC seems to have slowed down the pace of approving new IPOs amid a poorly performing stock market, though it had previously hinted that an IPO suspension was unlikely.

No new prospectus has been published since July 16, according to the CSRC's website.

The CSRC began to disclose prospectuses of enterprises seeking IPOs and going under the commission's preliminary examinations since February this year, and it is the first time that no new prospectus was disclosed for more than 25 days.

China's stock market has been shaken this year over concerns of a deepening slowdown in the national economy amid the global downturn. The key Shanghai index has declined more than 10 percent from its peak in February.

The country's GDP expanded 7.6 percent in the second quarter of the year, down sharply from 9.5 percent a year earlier and half a point below the 8.1 percent rise seen in the first three months of this year.

News we recommend:
Has the bear outstayed his welcome? Steel profits continue to suffer China has entered an era of low consumer prices
Firms should watch out for Internet threats China's property market to cool down: experts Why have people lost trust in data and indices?
US takes trade remedy actions against China  Chinese prefer foreign brands Mascot maker feels pinch of rising labor costs

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China's aircraft carrier's sea trials

  2. Tragic moments all around the world

  3. Why have people lost trust in data and indices?

  4. Award-winning inkstick designer in E China

  5. Cruel! Polar bear eats cub

  6. Tang Wei models for jewelry designed by herself

Most Popular

Opinions

  1. Firms should watch out for Internet threats
  2. Why have people lost trust in data and indices?
  3. Money chase likely to continue in U.S. eletions
  4. Real estate rebounds as buyers return
  5. Editorial: Outbound investment risks
  6. Don’t be overwhelmed by domestic issues
  7. US pushes China to get serious about sanctions
  8. Obama diverts attention with Romney bashing
  9. Fearing others' rise offers path to eventual doom

What's happening in China

Watsons pulls 'deadly' facial masks off shelf

  1. Chinese warship wraps up first visit to Bulgaria
  2. Robbery suspect was 'quiet, well-behaved'
  3. Ancient villages welcome investors
  4. Fugitive gunman kills police officer in SW China
  5. 6.2-magnitude quake hits Xinjiang

China Features

  1. Boxing in China II: A Tale of Two Decades
  2. Fortune 500 Chinese companies not strong
  3. Why Hollywood favores China's actresses?
  4. Dongfeng Honda to recall 76,000 CR-Vs
  5. How to protect yourself during heavy rainstorms?

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai