China's move to US-style IPO registration a boon for local brokers

Hong Kong

CHINA'S landmark decision this month to implement a US-style registration system for stock listings will boost revenues at local banks and brokers and lure more companies to the stock market, analysts said.

Under official proposals unveiled by the State Council on Dec 9, issuers and underwriters will have leeway to choose the pricing and timing of initial public offerings (IPOs), decisions currently made by the regulator.

Investors will also no longer be …