Devotees of entrepreneur Dai Wenjun’s famous duck-neck snacks are so loyal that he could even sell them bricks cooked with his signature spices, he once boasted. But he can’t sell shares in his company to the public. Hunan Juewei Food Co. has been stuck for the past year in China’s clogged pipeline of initial public offerings. About 675 companies are awaiting government approval to sell a total of roughly $63 billion in stock, according to a tally by The Wall Street Journal of securities filings. The logjam got worse after the government halted all new stock sales in July as it scrambled to contain the Chinese stock-market crash. Even though stocks have rebounded and the IPO market is set to reopen , many chronic problems remain, according to entrepreneurs and analysts. One big snarl is the Chinese government’s tight control of the initial public offering process. Listing requirements are […]