China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

Euromoney’s 2012 FX survey results

Euromoney’s 2012 FX survey results

Access the results now

October 2005

Fudging Hong Kong's IPO numbers


The Special Administrative Region's regulator has botched its attempt to clean up the thorny issue of pre-deal research.


Hong Kong's chief markets regulator, the Securities and Futures Commission (SFC), has been a busy place of late. Currently on the reform agenda are 21 separate proposals designed to streamline and improve the IPO process in Hong Kong. These measures have assumed a greater international relevance since Hong Kong has cornered the market for China listings after America cooked its own China goose with Sarbanes-Oxley.

The SFC is currently in consultation mode and wants feedback on the measures, most of which constitute laudable improvements to the current system, a cumbersome and over-regulated documentary morass. If you doubt it, just ask one of Hong...


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