HONG KONG: China s securities regulator is setting up a team to review plans by Chinese companies for initial public offerings (IPOs) abroad, sources with knowledge of the matter said, including those using a corporate structure which Beijing says has led to abuse. Chinese companies looking to list offshore will also need approval from the relevant ministry, the sources told Reuters, in a break from a decades-old arrangement that did not require them to seek a formal go-ahead from any authorities in China. The China Securities Regulatory Commission s (CSRC) team will mainly sharpen its focus of companies seeking to list overseas using a structures known as Variable Interest Entities (VIEs), three people with knowledge of the matter said.
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Explainer: How Chinese clampdown will target offshore listings
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