China IPOs could be locally approved

Author: | Published: 1 Jul 2009

Approval for initial public offerings in China could soon be delegated to local authorities, following the government’s continued measures to attract foreign investment in the country.

Despite fears of the country’s economy overheating a year ago, Mofcom’s announced on May 16 that FDI had fallen 22.5% year-on-year in April. The government is now reportedly keen to attract investment into the country again.

In a statement issued by China’s Ministry of Commerce...