Professor Roy Smith explains why he believes that sponsors of IPOs on China's forthcoming tech-focused exchange will be required to invest in the ventures
— April 16, 2019
Excerpt from Bloomberg -- "'The idea is to make sponsors/underwriters more conservative in promoting IPOs that seem hot, with "skin in the game,"'" he said by email. 'Chinese sponsors may be willing to take on this risk for various local reasons. Foreign banks, maybe not.'"