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SHANGHAI (Reuters) China securities regulator has tightened its approval requirements for initial public offerings by companies in some industries seen as having high risks of financial irregularities, uk canada goose including restaurants and chain stores, industry sources told Reuters.

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canada goose store While there was no clear signal from Beijing on the reason behind the changes, at least some of the steps appear to have happened in the wake of accounting scandals among some Chinese companies listed overseas, which have cast a spotlight on weaknesses in Chinese corporate governance. canada goose store

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canada goose coats on sale Around two months ago, the Canada Goose Parka China Securities Regulatory Commission (CSRC) raised the canada goose store requirement for annual profits for restaurant operators seeking canada goose clearance sale IPOs to 50 canada goose uk black friday million buy canada goose jacket cheap yuan ($7.7 million) from 30 million canada goose uk shop yuan, one of the sources said. canada goose coats on sale

canada goose clearance sale The CSRC uk canada goose outlet then heightened its scrutiny over restaurant IPOs in the cheap canada goose uk past month or so, one investment banking source said, while another banking source said the focus on accounting issues surrounding franchise style chain stores had come about in the last two weeks. canada goose clearance sale

Canada Goose Parka Among the affected companies, the listing application by South Beauty Co, a Beijing based restaurant chain operator that had been canada goose black friday sale planning to list in Shenzhen, has been shelved by the CSRC, two people with direct knowledge of the deal said. Canada Goose Parka

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A spokesperson at the CSRC declined to comment when contacted by Reuters. A South Beauty spokeswoman was not immediately available for comment.

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buy canada goose jacket The CSRC last month held a meeting Canada Goose sale with securities industry executives urging them to exercise extra caution when handling IPOs from certain industries, especially those with a relatively short history, unusually rapid expansion or high turnover rates of stores, the 21st Century Business Herald reported last week. buy canada goose jacket

Some restaurants have been known to avoid paying tax by not issuing sales canadian goose jacket receipts to customers, a practice many local governments have addressed by introducing incentives for customers to ask for receipts, such as lottery type prizes on receipts.

canada goose coats does not have canada goose coats big restaurant chains like McDonald or KFC. Local restaurant chains are weak canada goose factory sale in canada goose coats on sale the areas of internal control and standardized management systems when compared with these big players, said Cao Xuefeng, head of research at Huaxi Securities in Chengdu. canada goose coats

buy canada goose jacket cheap The CSRC has thrown out around two dozen IPO applications since March, according to Reuters calculations, compared with only a handful in the first couple of months of the year. buy canada goose jacket cheap

Canada Goose sale Many of the rejected plans were for canada goose uk outlet IPOs on the Shenzhen Stock Exchange, in a range of sectors including biotech, materials, agriculture and pharmaceuticals. Canada Goose sale

Canada Goose Outlet The lackluster post IPO share performance of many newly listed companies in Shanghai and Shenzhen after selling their shares at sometimes extreme valuations earlier this year has drawn criticism from local media and investors on the quality of new listings. Canada Goose Outlet

canada goose clearance Shenzhen hosts the ChiNext market a start up board dubbed as China answer to https://www.goosefrshop.com the Nasdaq as well as a small and medium sized enterprise (SME) board for smaller companies. canada goose clearance

canada goose The number of listed companies in Shenzhen has increased by more than half to over 1,300 from close to 850 in 2009, exchange data showed. canada goose

cheap Canada Goose The tightening of restrictions comes as cheap Canada Goose more companies outside the financial and industrial sectors look to list and to tap what has been a booming primary market in Shenzhen, including snack food retailer Shanghai Laiyifen Co and foot massage chain Liangzi cheap Canada Goose.

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