Two banks get IPO nods from CSRC

China Securities Regulatory Commission has given both the Bank of Chongqing and Huishang Bank its approval to hold initial public offerings in the H-share market, according to CSRC on Friday.

The commission encourages Chinese companies to secure overseas listings and take advantage of foreign funds to enhance their own competitiveness, said a spokesman of CSRC.

Approved by CSRC, urban commercial banks can apply for overseas listings. The commission offers its help to get the companies listed.

CSRC has not received an IPO application from Central China Securities.