Chinese regional banks are turning to the stock market to shore up their capital bases ahead of an anticipated surge in bad loans amid a slowing economy. The Nikkei Asian Review reports the China Securities Regulatory Commission has greenlighted initial public offerings for eight regional banks, with applications pending for five more. Bank of Hangzhou is expected to debut in Shanghai as early as this year. Small and midsize banks largely serving rural areas also plan to list, including Jiangsu Changshu Rural Commercial Bank and Wuxi Rural Commercial Bank. Domestic institutional investors, such as insurers, and retail investors will likely be the main buyers.
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