The China Securities Regulatory Commission CSRC, often staffed by highly trained returnees from the US, is usually seen as squeaky clean. But the planned reforms suggest that all is not well with the 80-strong committe, set up by the CSRC, which makes the final decision as to which company lists.
On the heels of the completion in October of the two year tenure of the committee, proposed reforms include setting up a 'recommendation' system, whereby investment banks put forward the name of listing candidates. Their chances of doing more underwriting are determined by the performance of the companies they put forward. This will hopefully improve the lamentable performance of China's...
