The new head of Hong Kong’s Securities & Futures Commission said the exchange will increasingly look to private enterprises to launch initial public offerings as the wave of debuts by state-owned Chinese companies appears to be coming to an end, the Financial Times reported. This trend will pose different regulatory risks, and the commission will continue to be rigorous about high disclosure standards, said Ashley Alder, who took over as the head of Hong Kong’s SFC on October 1. The SFC recently introduced new guidelines to limit the kind of rampant short-selling that has sharply depressed the valuations of Chinese companies listed on US exchanges. New rules stipulate that short-selling positions on stocks in the territory’s two main indices must be disclosed if the net position exceeds HK$30 million or 0.02% of the company’s issued share capital. Hong Kong has also banned naked short-selling – in which investors short shares they have not borrowed themselves – and the shorting of stocks whose prices are already falling.