Beijing Exchange Bucks Downward China IPO Trend with Regulator Backing
• IPO volumes on Beijing Stock Exchange fell just 13% vs 48% on Shanghai exchange and 31% drop in Shenzhen
• Beijing exchange has avoided fate of other Chinese exchanges due to regulator support to develop it
• Regulator established 19-point plan to make Beijing exchange an incubator for innovative companies
• Beijing exchange’s benchmark index rose over 8% this year while main CSI 300 index fell 14%
• Battery maker Guizhou Anda Energy had top IPO on Beijing exchange, raising 650M yuan; its shares have since halved