Domestic lenders lining up for IPOs

Seventeen banks are waiting in line to be listed on China's A-share market, in the hope of raising up to a total of 90 billion yuan ($14 billion).

China Zheshang Bank Co Ltd, a national joint-stock commercial bank, eight city commercial banks, including Bank of Suzhou Co Ltd, Bank of Zhengzhou Co Ltd and Bank of Qingdao Co Ltd, and eight rural commercial banks are among the commercial lenders waiting to be listed on the Shanghai and Shenzhen stock exchanges, according to information posted by the China Securities Regulatory Commission on its website on Friday.

The initial public offering applications of two banks - Bank of Changsha Co Ltd and Bank of Zhengzhou - have passed the review by the Public Offering Review Committee of the CSRC and are awaiting formal regulatory approval, while the other 15 banks are still in the early and middle stages of the IPO process, according to the securities regulator.