(Yicai Global) March 28 -- The China Securities Regulatory Commission has no objection to Chinese companies going public in the United States, it said in a recent response to applications by ZKH Industrial Supply and other firms with such plans.

The watchdog’s no-objection response indicates that regulators continue to support qualified companies in their efforts to list offshore and are keeping overseas listing channels open, Yicai Global learned from a source close to the CSRC.

The CSRC held a video conference on March 27 in which some overseas-listed Chinese companies and institutional investors exchanged views about market conditions. Regulators in China and the United States are sparing no efforts to find a solution to their differences over auditing issues related to Chinese firms listed in the US, the source said.

In December, the CSRC released draft State Council regulations for domestic companies issuing securities and going public overseas as well as measures for the registration of domestic businesses issuing securities and listing overseas to solicit public feedback.

“The soliciting of opinions on the regulations and measures has finished and they will come into force as soon as possible after the necessary legislative procedures,” the source said.

Shanghai-based ZKH, an e-commerce platform for industrial products, has not said how much money it plans to raise from its US listing. But the firm previously said it is likely to raise about USD300 million to USD500 million, according to information on social media platforms. But the amount could change because the plan is still under discussion, it added.

The company has secured more than CNY4.69 billion (USD735.62 million) in six fundraisers over five years from February 2016 to October 2020, per figures from e-commerce big data provider Dianshubao.

Editor: Peter Thomas