Chinese companies earn $ 11.7 billion from initial public offerings in Wall Street

The willingness to invest in Chinese companies listed on the US stock market in 2020 has reached its highest level in six years, despite trade tensions between the two drawers, according to Economist.

The data show that Chinese-based companies earned $ 11.7 billion through 30 initial public offerings in the United States this year. This is the highest capital gain since 2014, when Chinese-based companies earned $ 25.7 billion in the United States. Research by Renaissance Capital shows that Alibaba, the largest e-commerce company, has the largest share of these revenues in the United States.

Chinese businesses delayed the initial public offering of their shares on the US stock exchange this year amid the Corona epidemic and the financial scandal of Lokin Kafi in April. Nasdaq listed the company on the stock exchange in the summer. Lucky Coffee was the first company since 2000 to add $ 3 billion in value in less than 24 hours.

US pressure on Chinese companies has not yet prevented them from appearing on Wall Street. Chinese businesses are keen to offer their shares to Wall Street investors.

In addition to blacklisting Huawei and other Chinese tech companies, the United States has threatened to expel Chinese companies from the US stock market. The US Congress passed a bill earlier this month that would provide more legal oversight to Chinese companies. According to the law, foreign companies must comply with US auditing standards