economy - Any Chinese shares, anybody?

The problems the domestic IPO of Air China faces, and the way it cut it's Shanghai offering by 39% percent, shows that China's stock exchanges are still having a tough ride. Suspending or slowing down of the IPO's might only be a part of the play and suggestions that supply and demand are not in balance seems nonsense.
China has no real shortage in terms of liquidity, but what the owners of that liquidity might get in return seems not appealing enough. After a slump of eight years and large numbers of investors losing a lot of money, it seems not easy to regain confidence of those investors. Even if there are very few other opportunities to invest their capital.