China proposes new rules to ensure high-quality IPOs – Lu Jianxin

From Reuters (link)

China’s stock market watchdog on Friday proposed a slew of changes in rules for initial public offerings aimed at promoting listings of high-quality companies.

The proposed rules require firms planning IPOs to have three straight years of profits, at least 30 million yuan ($3.7 million) in combined net profit in the past three years, and a minimum 300 million yuan in total revenues over the period.

The China Securities Regulatory Commission is seeking public comment on the proposals.

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