Private Sector IPOs: The New Rage In China?

China's answer to the Nasdaq is ready to launch trading in early October, with the initial batch of ten companies going to market on ChiNext set to raise a total of CNY6.68bn (US$979mn); more than double their originally planned amount. At a time when Chinese fiscal spending is beginning to show signs of slowing, private sector firms are being encouraged to take up any slack in helping maintain domestic growth - despite having to operate in a system that clearly favours large, state-owned businesses. ChiNext, known until recently as the Growth Enterprise Market, has been established after some ten years

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