Chinese companies drop IPO plans amid listing scrutiny

Chinese companies drop IPO plans amid listing scrutiny

FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indices at the Lujiazui financial district in Shanghai, China, March 17, 2023. REUTERS/Aly Song/File photo

Companies have scrambled to scuttle plans for initial public offering in China this year as the securities watchdog tightens rules on share listings in a bearish market.