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No Chinese firms make IPO in US last month

08-18-2011 14:44 BJT

With investor confidence taking a battering around the world, an increasing number of Chinese companies have suspended their plans to list in the U.S. In July, there were no IPOs by Chinese companies, in stark contrast to last year's boom.

NASDAQ has been the dream destination for Chinese companies seeking overseas IPOs. The boom of Chinese companies listing on the NASDAQ started in 2010. By the end of last year, a total of 167 Chinese companies had listed on the exchange. However, 24 Chinese concept companies are alleged to have committed accounting fraud since the beginning of this year.

Around 20 Chinese companies have now been suspended or de-listed. In light of this, more and more companies are willing to list on the A-share market.

Editor:Li Wanran |Source: CNTV.CN

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