Until a few weeks ago, listing at US stock markets was a favorite way to raise capital for fast-growing Chinese companies. That venue is closed now, and VC veteran William Bao Bean sees still bears on the road for on-shore listing’s at China’s stock markets, he tells the South China Morning Post.
China and US regulators have been tightening rules for Chinese companies to list at US stock markets, sending shockwaves through the financial and tech industry. Financial experts Winston Ma and Victor Shih look at the Wall Street Journal at what has happened over the financial cleaning operation in the past few weeks.
When China’s authorities cracked down on Jack Ma’s Alibaba, it was only the start of ongoing efforts to control tech companies and manage their data streams, says Shanghai-based business analyst Shaun Rein to WRAL. “Now Chinese people are quite concerned about data privacy because Alibaba and Tencent have so much data – even more data than the government,” he adds.
E-commerce firm Shein from Nanjing has been operating much under the radar, until last week it last week came with plans of an IPO in New York with a valuation of US$47 billion. E-commerce expert Matthew Brennan, author of “Attention Factory: The Story of Tiktok and China’s Bytedance” explains at Yahoo Finance what Shein has been doing right.
Former US President Donald Trump tried to derail relations with China by banning stocks from Chinese companies at US stock markets. Now, under President Joe Biden, certainty for stock markets including the Chinese shares is key, says former White House advisor Harry Broadman at US News. Although there might be some other dangers.
After the Senate also the House of Representatives approved this week the bill to ban Chinese companies at US stock markets, the Holding Foreign Companies Accountable Act (The Kennedy Bill) if they do not allow inspections by the American PCAOB. But accountant expert Paul Gillis does not expect will materialize, he writes at his Chinaaccountingblog.
In a last-ditch effort to cross China and hinder the president-elect Biden to set his own course, US President Trump has introduced regulation to ban Chinese companies from listing at US stock markets. Accountant specialist Paul Gillis looks at the ChinaAccountingBlog at the possible effect.