Mental-health IPO is a leap forward for China

The number of Chinese registered as suffering from depression, anxiety, alcohol abuse, dementia, and other mental illnesses increased 25 percent between 2014 and 2016, according to Chinese authorities. By one recent accounting, they number 173 million. Only 20 million receive professional treatment.
 
Long-standing social stigmas and a lack of treatment options account for most of the gap. But those biases and institutional weaknesses are starting to break down. This week, Wenzhou Kangning Hospital, a chain of psychiatric hospitals, announced that it’s seeking a $29.5 million initial public offering on China's A-share market — making it the first mental-health-focused business