International banks have warned Beijing that an overhaul of the regime for listing Chinese businesses overseas may deter them from advising on initial public offerings, which would imperil a source of funding that has powered some of the country’s best-known companies.

Asia’s top banking lobby group, whose members include Goldman Sachs, Morgan Stanley and JPMorgan Chase, has written to Chinese regulators pleading for clarity about rules that were proposed after the calamitous listing of ride-hailing app Didi Chuxing in New York last year, according to two people familiar with the matter.

The Asia Securities Industry and Financial Markets Association (Asifma) sent the letter on Sunday to highlight its “great concern” that the planned framework is “completely unclear” and raises the prospect of greater regulatory risks and higher costs for banks, according to a person familiar with the matter.