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Chinese companies take refuge in the Hong Kong Stock Exchange

2021-08-01T17:38:25.354Z

Tensions between Beijing and Washington have prompted several heavyweights to choose the port city. On July 7, Xpeng, a Chinese electric car maker, went public on the Hong Kong Stock Exchange, raising 14 billion HKD (1.5 billion euros). This was a secondary listing, with Tesla's rival already listed on the New York Stock Exchange. Read also: How the new Chinese emperor extended the Party's iron fist over Hong Kong This is only the latest in a long series. Over the past three years, the port ci



On July 7, Xpeng, a Chinese electric car maker, went public on the Hong Kong Stock Exchange, raising 14 billion HKD (1.5 billion euros).

This was a secondary listing, with Tesla's rival already listed on the New York Stock Exchange.

Read also:

How the new Chinese emperor extended the Party's iron fist over Hong Kong

This is only the latest in a long series.

Over the past three years, the port city has attracted thirteen Chinese companies already listed in the United States, including heavyweights Alibaba, Baidu, Xiaomi, Meituan and JD.com.

The growing tensions between Washington and Beijing - on the fronts of tariffs, technological competition or human rights - have indeed made the United States less attractive.

Last year, Congress also passed a law requiring Chinese firms listed in the United States to have their accounts certified there, a practice Beijing banned.

Then, in July, China introduced a directive requiring large Middle Kingdom tech groups to get the green light from the government.

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Source: lefigaro

All news articles on 2021-08-01

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