Beijing clears way for more IPOs

China's securities regulator has allowed more of the country's state-owned enterprises to list, primarily in Hong Kong, the Wall Street Journal reported, citing State-owned Assets Supervision and Administration Commission Chairman Li Rongrong. SASAC oversees China's 169 major central enterprises. Li said Chinese firms should continue their push for overseas listings while the conditions for listing on China's domestic exchanges improve. China would also set up asset-management companies as a platform to push forward the restructuring of SOEs next year, Li told state media.