For the first half of 2021, there were no signs of decoupling between China and the US in one space: IPOs.
During the first six months of the year, 34 Chinese companies raised a total of $12.5 billion from listings on US exchanges, according to Refinitiv, a news and data platform under the London Stock Exchange Group. The amount of funding raised by the firms represented a 561% jump from the same period in 2020, when Chinese companies in total raised around $12 billion for the whole year.
The firms that listed in the US this year covered a range of industries, including retail, consumer goods and services, and transport, in addition to the technology sector. The frenzy of first-half listings came despite moves in the US to demand more financial transparency from Chinese firms listed there, and could reflect pent-up demand from pandemic-hit 2020.
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