Among the enterprises that went public in Hong Kong in 2012 were People's Insurance Company Ltd (Group) of China, one of the world's largest insurers measured by premium income, which raised about HK$24 billion on Dec 7 in the biggest IPO in Hong Kong so far in 2012.
Many realty developers have also gone public in Hong Kong this year, including the Shanghai-based CIFI Group Co Ltd and Jiangsu Xincheng Real Estate Co Ltd.
To be listed in Shanghai or Shenzhen, a company must have made profits for three consecutive years. Hong Kong and other markets such as the United States, in contrast, allow companies to have temporary losses before holding public offerings.
On Dec 16, the securities regulatory commission said it plans to loosen the standards applying to mainland companies that are looking to go public in Hong Kong.
Guo Shuqing, the chairman of the commission, said it and its Hong Kong equivalent, the Securities and Futures Commission, have agreed to lower the size and financial requirements for companies that are seeking to be listed.
Under current rules, companies cannot hold IPOs on the mainland unless they are valued at more than 400 million yuan, and have more than 60 million yuan in net annual profits.
wuyiyao@chinadaily.com.cn
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