China Postal Express and Logistics Co Ltd, the State-owned express courier company, has withdrawn its application to go public amid strong competition from domestic rivals
China approved the listing of five companies on Monday evening, signaling the resumption of IPO on its stock markets after a break of more than one year.
The Shanghai Stock Exchange had its first nominal IPO in 14 months on Thursday, which is actually a securities account transfer from B to A shares by Zhejiang Zheneng Electric Power Co Ltd.
About one third of Chinese firms lining up for IPOs have sounded the retreat since the securities watchdog tightened checks before restarting IPOs.
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.
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