Following the stricter regulation of the IPO approval process last year, the number of Chinese A-share IPOs plunged 76.6%. This equates to a 52.2% drop in overall Chinese equity capital markets volume year-on-year.
But offshore issuance bucked the trend. It saw the highest deal activity since 2010 as 117 companies applied to list offshore.
The technology sector took full advantage of less stringent regulatory approvals in New York and Hong Kong, with 36 out of the 117 companies coming from the sector.
Losing those deals to offshore jurisdictions has prompted the China Securities Regulatory Commission CSRC to have a public consultation...