China’s Proposed IPO Overhaul Comes With Restrictions

China’s planned easing of rules for initial public offerings across all its exchanges comes with restrictions telling bankers that some firms will need to seek special permission to sell shares.

The China Securities Regulatory Commission on Wednesday unveiled a long-awaited plan to roll out a registration based listing mechanism to all domestic stock exchanges in a bid to fuel access to funding in the nation’s $11 trillion equity market for millions of smaller companies. The regulator is now seeking public feedback on the draft rules until Feb. 16.