BEIJING (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…
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China Penalizes Two Brokerages in Crackdown on IPO Fraud – Bloomberg (bloomberg.com) China ‘s securities regulator punished two brokerages for violating the country’s securities rules and banned four bankers from the industry for life as it steps up a crackdown on fraud in initial public offerings.
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Accounting fraud still not taken seriously enough in China (wantchinatimes.com) Corporate governance in China allocating management control over a company’s accounting has lead to a lack of effective control and supervision, with audits rarely being conducted by independent accountants, the Chinese-language magazine Global Entrepreneur reports. There has been renewed interest in the corporate governance practices of many…
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Tiananmen Mothers condemn China’s President Xi Jinping (telegraph.co.uk) China Tiananmen Mothers condemn China’s President Xi Jinping More than 100 people whose relatives were killed during China’s 1989 crackdown on protestors in Tiananmen Square have lashed out at Xi Jinping, accusing the country’s new president of taking “giant steps backwards”. Tiananmen Mothers condemn China’s President Xi Jinping Photo:…
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Hong Kong IPO market heats up with $3.5 billion Sinopec unit, Galaxy Securities deals (harounkola.com) A unit of Sinopec Group and brokerage China Galaxy Securities are launching Hong Kong IPOs on Monday seeking to raise up to $3.5 billion in total, injecting life into Asia’s… read more on Reuters read more at Hong Kong IPO market heats up with $3.5 billion Sinopec unit, Galaxy Securities…
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Record Number of Banks in One Deal as HK’s IPO Market Heats Up (blogs.wsj.com) By Prudence Ho Bankers started taking institutional orders Monday in the two biggest initial public offerings in the city so far this year, those of China Galaxy Securities Co. and Sinopec Engineering, which are expected to raise a total of US$3.6 billion. But in certain, smaller circles the most remarkable number of the…
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China shares rise to highest since March, led by brokerages (uk.reuters.com) China shares rose to their highest in just over two months on Tuesday, as investors chased a rally in the brokerage sector after an official news report raised hopes of improved profitability. The CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 1.7 percent to its highest close since March 6.
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