Tech bosses call for China to adopt US-style IPO registration system at the World Internet Conference

 

Picture from Tencent Tech
Picture from Tencent Tech

On Thursday, at the Internet Innovation Forum of the World Internet Conference in Wu Zhen, Pony Ma of Tencent, Liu Chuanzhi, founder of Chinese PC giant Lenovo, Robin Li, CEO of Baidu, and Chairman of Nokia, Risto K. Siilasmaa discussed returning to China’s mainboard, reports Tencent Tech.

At the meeting, Lei Jun, Chairman and CEO of China’s Apple, Xiaomi, said the company does not have plans for an IPO in the near future. It was rumored Xiaomi may go IPO soon. Because the company is valued at USD 46 billion, making it the world’s second-most valuable startup behind Uber.

“I think if China’s mainboard were to be well regulated, more companies might be listed domestically, in return boosting the economy of China,” he added.

Chairman of Lenovo Holdings, Liu Chuanzhi says he pays more attention to the Chinese mainboard and Chinese companies listed on the Hong Kong stock exchange. “If a (US-style) registration system could be introduced on China’s mainboard, with strict supervision and law enforcement, China’s market will naturally boom,” said Liu.

Robin Li, CEO of search engine giant Baidu, says Baidu is always ready to return to China’s mainboard, but present policies bar Baidu from doing so. “We look forward to the further opening of China’s mainboard, so that more excellent Chinese companies can go public in their home market.”

AllTechAsia Staff

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English.

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