Beijing Massage Parlors: Market Watch: China gets ready for wave of public issues
What’s the link between a Chinese massage parlour chain and the country’s biggest train manufacturer? Both are raring to raise funds from initial public offerings in mainland China markets.
Last week, at least nine companies started IPO subscriptions in Shanghai. In China, it’s almost as if the global financial crisis never happened.
The run-up to the New Year party couldn’t have been better. In November, China’s exports fell the least in 13 months. Imports surged 26.7 per cent from a year earlier as industrial production jumped.
Urban housing prices leaped to a 16-month high as first time buyers jammed the property market. Citic Securities, the biggest broker in China, upped the cheery decibel, reporting that the benchmark Shanghai Composite Index may reach 4,500 in 2010. (The Index closed at 3,247 last week.)
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The boom this year will also sharpen Shanghai’s new found rivalry with Hong Kong. Beijing is likely to push China’s big state-owned enterprises to list domestically first, before moving to Hong Kong. …
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