How did international banks miss Citic Pacific's US$36 billion takeover deal?

A small team of merger and acquisition specialists at Citic Securities, a subsidiary of Citic, in Beijing worked on the reverse takeover of Citic Pacific. Photo: Reuters

Jealous. This is the word many Western bankers in Hong Kong will use when they talk about the mega-sized reverse takeover deal of Citic, one of the most important state-owned industrial giants on the mainland.

Tuesday, 1 April, 2014, 8:45am 5 comments

Hong Kong should not be a dumping ground for middling IPOs

Yao Gang, vice-chairman of the China Securities Regulatory Commission

"As long as you can meet the listing requirements of the Hong Kong stock exchange, you should definitely go there." That was the clear message from one of the most senior stock market regulators on the mainland when asked about the funding needs of small-sized, capital-hungry private enterprises.

10 Mar 2014 - 10:18am 5 comments

Shaanxi Coal halves fundraising target as regulator tightens scrutiny of IPOs

Shaanxi Coal’s IPO is valued at a modest price-to-earnings ratio of 6.23 times its 2012 profit on a diluted basis. Photo: Reuters

Shaanxi Coal Industry has slashed the target for its initial public offering by half, seeking to raise up to US$660 million, amid regulatory pressure on listing companies to ensure that the resumption of IPOs in China is not marred by unrealistic valuations.

16 Jan 2014 - 2:56pm

China's listing reform under scrutiny after six firms suspend IPO plans

The CSI300 Index has lost nearly 11 per cent over the last four weeks since IPOs were allowed to resume. Photo: Reuters

Six companies have suspended their IPO plans, embarrassing China's securities regulator and providing further evidence that a 15-month long effort to reform the new share sale mechanism on financial exchanges still faces hurdles and scepticism from investors.

14 Jan 2014 - 1:13am 1 comment

Chinese securities regulator approves five new listings, ending year-long hiatus

The China Securities Regulatory Commission has approved the public listing of five companies in Shanghai and Shenzhen exchanges. Photo: AP

China’s national securities regulator has approved the public listing of five small- and mid-sized companies in Shanghai and Shenzhen exchanges, ending a year-long freeze on new IPOs.

1 Jan 2014 - 6:24pm

Securities regulator calls for policies to protect small investors

Retail investors suffer from inadequate information disclosure by listed companies, said CSRC chief Xiao Gang. Photo: Reuters

China should implement more policies to protect retail stock investors to ensure the healthy development of the country’s capital market, the head of the securities regulator said on Wednesday.

16 Oct 2013 - 2:32pm

China punishes two brokerages in IPO fraud crackdown

A brokerage house in Jiujiang, Jiangxi province. China’s stock market has suffered from rampant corporate scandals. Photo: Reuters

China’s securities watchdog has punished two brokerages for violating rules in helping fraudulent firms to list shares, underlining Beijing’s determination to bring credibility to a stock market some have likened to a casino.

29 Aug 2013 - 4:13am

A decade of growth but no sign of a fair share

The mainland economy is five times as big as it was 12 years ago but Shanghai's stock market has gone nowhere amid barriers to profitability.

30 Apr 2013 - 4:28am 4 comments

China mutuals told to buy more stocks to boost market

The increase in minimum holdings by stock-focused funds came is being seen as sign of Xiao's determination to underpin the mainland stock market. Photo: Reuters

The mainland's securities regulator is ratcheting up pressure on mutual funds to increase equity purchases after the key stock market indicator lost nearly 3 per cent this week. The move was seen as the first substantial step by the newly appointed chief regulator, Xiao Gang, to support the beleaguered stock market since he took office five weeks ago.

27 Apr 2013 - 5:56am

Strict checks fail to deter IPOs

According to the China Securities Regulatory Commission, 124 IPO applicants had terminated their share-sale plans as of Friday. Photo: AP

An attempt by China's securities regulator to slow the so-called quake lake of listing applications on the mainland may turn out to have been a botched strategy, with fewer than expected companies voluntarily withdrawing their listing plans during the enforced re-examination campaign.

2 Apr 2013 - 4:11am

Authorities clash over control of PE funds

Authorities clash over control of PE funds

A tug of war has erupted between the mainland's securities regulator and top economic planning agency for control over the private-equity sector.

1 Apr 2013 - 4:04am

Chief regulator Guo Shuqing tipped as Shandong governor

Guo Shuqing

Guo is credited with a series of major reforms to revamp the country's arcane stock markets since he took office in late 2011. But the move is also being seen as a step towards grooming him for a more important position in the hierarchy in the future.

13 Mar 2013 - 5:24am 2 comments

CSRC chief assures fair deal for Hong Kong investors

Guo Shuqing. Photo: Simon Song

China Securities Regulatory Commission chief Guo Shuqing said residents of Hong Kong, Taiwan or Macau living on the mainland will enjoy equal treatment to mainlanders when they invest in the A-share market.

11 Mar 2013 - 4:29am

China stocks set to be cleared for Hong Kong investors

Guo Shuqing. Photo: Reuters

Citing the policy as a boost to local institutions' yuan businesses, the Hong Kong Monetary Authority said it would keep in close contact with the mainland regulators to develop yuan businesses.

8 Mar 2013 - 7:05am

New rule to boost A shares, cross-border flows

A board displays stock prices at a brokerage in Shanghai. Photo: Xinhua

The China Securities Regulatory Commission is expected to unveil in the near future a new rule governing the opening of A-share trading accounts, which will, for the first time, define residents from the three areas as qualified A-share investors if they live on the mainland.

27 Feb 2013 - 1:27am