Delistings on Hold as CSRC Slams a Back Door

(Beijing) – It's not uncommon for a retail investor in China to dabble in numerology, even subconsciously, while playing the stock market.

But after share prices surged for Shanghai-listed companies with the number "360" in their ticker symbol-like market codes, regulators found a new reason for alarm over backdoor listings that don't add up.

The backdoor listing route through minor and shell companies has been cited as the most likely avenue for internationally known Chinese companies seeking to delist in the United States and raise new funds on a Shanghai or Shenzhen bourse.