CSRC announces 10 public listings in Shanghai and Shenzhen

The China Securities Regulatory Commission has green-lit five initial public offerings in Shanghai and five in Shenzhen, the first since listings were frozen in July amid an equities rout, Bloomberg reported. Under new rules, investors will no longer be required to deposit funds when applying for new share subscriptions, a prerequisite that had helped dent benchmark indices repeatedly before this summer’s rally finally collapsed. The 10 companies in question had already received approval before IPOs were halted five months ago, and the benchmark Shanghai index has since rallied back into a bull market that regulators appear confident will stand on its own.