Li Auto had the biggest IPO of all 26 Chinese companies that listed on Nasdaq in 2020. Credit: Li Auto
Chinese companies last year rushed to Wall Street even as tensions — and some regulatory battles — between China and the United States intensified.
New U.S. laws brought a higher level of scrutiny to Chinese companies’ finances last year. A November executive order banned Americans from investing in Chinese military affiliates, taking aim at names like Huawei and major state-owned enterprises. Several were delisted from the New York Stock Exchange and more were removed from indices.The Wire has previously written about the executive order and the companies affected by it. In December, the Holding Foreign Companies Accountable Act became law, which will force overseas companies to give U.S. regulators audit access or face delisting.
Still, Chinese initial public offerings kept coming. The U.S. can be a land of opportunity for private Chinese companies, notably technology startups, to raise short-term capital. Listing in New York also helps some to maneuver around Chinese cu
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