China's COVID testing firms to face strict IPO checks

China's COVID testing firms to face strict IPO checks

A medical worker in a protective suit collects a swab from a man for nucleic acid testing, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 18, 2022. REUTERS/Aly Song

Chinese stock exchanges said they will strictly vet listing applications from COVID-19 testing companies, in response to media reports voicing concerns over fundraising plans by beneficiaries of the pandemic.