- The China Securities Regulatory Commission (CSRC) is accelerating the approval of IPOs, according to Securities Times.
- The number of IPOs requiring approval hit a record high in November.
Why It Matters:
- As the Chinese stock market crashed several times in February, leading to several trading halts, the CSRC delayed the approval of IPOs in order to prevent the subsequent injection of liquidity into the stock market.
- As a result, there are 790 companies awaiting IPO approval from the CSRC. Even at the current rate of approval, it will still require another 21 months to complete the regulatory review of these companies.
- Sina suggests that by November, China Securities ranked 1st in terms of underwriting fees followed by CICC and Anxin Securities. CITIC Securities (6030.HK) only ranked in 4th place.