Get set for a suckers' rally. On Monday, Guilin Sanjin Pharmaceutical, China's biggest producer of herbal lozenges, should rustle up the nation's first initial public offering since September. The resumption of festivities is long overdue. But more important is the regulatory overhaul that accompanies it. The stated aim is to shift closer to international norms, where institutional demand rather than the regulator sets stock prices.
等著迎接一輪「傻瓜漲勢」吧。週一，中國最大草藥潤喉片生產商桂林三金藥業(Guilin Sanjin Pharmaceutical)將啓動去年9月以來該國第一宗首次公開發行(IPO)。這樣的「喜慶日子」早就應該恢復。但更重要的是隨之而來的監管改革。其公開目標是要向國際慣例靠攏，由機構需求（而非監管者）決定股票價格。
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