Chinese banks’ rush to join the equity market is showing no sign of slowing. Chinese joint-stock commercial bank China Bohai Bank and city commercial banks Bank of Shanghai and Shanghai Rural Commercial Bank (SRCB) are just three of the lenders looking to launch an initial public offering (IPO).
In March this year, China Zheshang Bank printed a $1.69bn Hong Kong IPO. This was significant to the development of China’s banking sector because the lender is a joint-stock commercial bank. These banks are regarded as systemically important financial institutions and rank immediately below China’s 'big four' (Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China).
