China Attempts To Connect With The USA In The Overseas Public Offering Event!
China's securities regulator has invited the US Securities and Exchange Commission to pause the IPOs of Chinese companies and then meet with the Americans.
The China Securities Regulatory Commission is trying to expedite communication with the SEC to come up with an accurate conclusion, media said on Sunday after the US regulator said it would suspend any Chinese IPOs until companies improve their risk rhetoric. The Chinese observer expressed respect and cooperation on this issue.
In response to Beijing's restraint on the private sector, SEC Chairman Gary Gensler said he asked staff for clarifications from Chinese firms before signing registration statements to purchase stock. In previous processes, China had said rules that required all private companies wishing to be listed in a foreign country to undergo a cybersecurity audit; it was a move that would greatly increase oversight of private enterprises.
SEC Chairman Blocks Chinese IPOs Until Risks Are Well Explained!
The pressures on overseas listings came after Didi Global Inc. began listing in the US despite rumors from Beijing, Bloomberg News reported earlier. A few days after Didi's debut, Chinese regulators launched an investigation into the firm. and started a sale of shares from tech giants by blocking their apps from Chinese mobile stores.
The CSRC added that China has long taken a clear approach to list locations and that the current review with specific industries is aimed at coordinating development and security. The securities watchdog will establish close links with key departments to better improve the precision and predictability of policies.
In a press release, the CSRC additionally reiterated its commitment to opening up the country's financial industry and clarified that its prospects for Chinese capital markets are predictable and healthy.