A man looks out the window on the second floor of the Main Media Center in Beijing, China. Picture: GETTY IMAGES/TASOS KATOPODIS
A media representative at the lobbying group — the Asia Securities Industry & Financial Markets Association — and the CSRC declined to comment. Banks say China’s latest draft rules, which were issued for public comment, will increase operational costs and introduce hard-to-navigate regulations for firms operating in Hong Kong or other places outside mainland China, according to people familiar with the concerns.
ASIFMA questioned the necessity of the wording, saying that since offshore listings target buyers in mature and well-regulated markets they should have limited domestic impact in China.
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