Further Proof That China Is Too Hot-To-Trot

"Chinese regulators have imposed a partial ban on listed companies raising capital from equity markets to repay bank loans or replenish working capital, amid a general tightening of liquidity and official curbs on soaring bank debt in the country.At least 34 companies, mostly in the industrial and real estate sectors, have cancelled or reduced plans to raise money through private placements or secondary offerings in recent weeks.
Many of those companies said their plans were vetoed by the securities regulator, which said they are no longer allowed to raise money for working capital or repaying bank debt."

Up next - allowing the currency to fluctuate naturally.  After that - China's 'lost decade'.

http://ftalphaville.ft.com/blog/2010/02/04/140621/china-first-the-banks-now-the-corporates/