Chinese IPO's back to the fore

As state-owned China Aluminium continues to roadshow across the globe, two privately-owned Chinese companies test investor demand for their prospective IPO''s.

Zhejiang Glass, which completes roadshows today Friday and Clear Media, which began pre-marketing on Monday, are at the forefront of a new wave of privately-owned Chinese companies hoping to access equity capital on the Stock Exchange of Hong Kong. Bankers report that a growing number of RFP's Requests for Proposals are being issued by similar entities on the Mainland in a signal that the government is actively pushing the private over the public sector.

As one banker puts it, It's very clear the Chinese government wants capital to be allocated where it will be used most efficiently. Few would disagree that this means the private sector and I believe this will be one of...

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