BEIJING, July 15 (Xinhua) -- China's small- and medium-sized banks remained enthusiastic about financing via initial public offerings (IPO) this year despite that approval of their IPO applications slowed down due to regulatory concerns over their asset quality and risk shielding, reported Economic Information Daily Wednesday.
Year to date, there have been 18 banks, all of which are local small- and medium-sized banks, queuing up for IPO applications on China's A-share market.
Among them, Xiamen Bank may be the first bank to list on the A-share market this year as it will soon go through the IPO examination meeting of China Securities Regulatory Commission.
Industry insiders say that IPO is an important path for small- and medium-sized lenders to boost core tier 1 capital and better support financing of small- and micro-businesses. Alongside the functioning of a series of liquidity boosting policies for banks in China, public listing of lenders is likely to speed up in the second half of this year.
Apart from Xiamen Bank, Xiamen Rural Commercial Bank, Bank of Chongqing, and Kunshan Rural Commercial Bank may report pragmatic progresses in their IPO before the yearend. (Contributed by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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