China to Accelerate Registration Process for Overseas Listings

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What’s new: China’s securities regulator will speed up the registration process for companies applying to list overseas, a vice chairman of the authority said.

The China Securities Regulatory Commission’s (CSRC) current pace for handling overseas listing applications “isn’t fast enough,” Fang Xinghai said Wednesday at the Lujiazui Forum, an annual financial conference in Shanghai.

“There is a long queue of companies (waiting to complete CSRC registration for their overseas listing applications),” Fang said.

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China’s securities regulator announced plans to speed up overseas listing registrations due to long queues.
As of Tuesday, 158 companies completed CSRC registration under new rules, with 85 seeking Hong Kong listings.
U.S. IPOs by Chinese firms showed recovery in 2023 but raised significantly less than in 2020.

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Who’s Who

Didi Global Inc: Didi Global Inc. is a ride-hailing giant that faced cybersecurity probes by Chinese regulators shortly after its multibillion-dollar IPO in the second half of 2021. This action marked the beginning of tighter overseas listing rules for data-heavy businesses from Beijing.

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What Happened When

December 2020：: 35 Chinese companies raised $13.7 billion through U.S. IPOs.

Second half of 2021：: Chinese regulators launched cybersecurity probes into tech companies, starting with Didi Global Inc.

March last year：: China’s new overseas listing rules came into effect.

December 2023：: Deloitte published data showing 37 IPOs by Chinese companies in the U.S. in 2023 raising $827 million.

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