Beijing/Washington: – The ruling Chinese regime has launched a vigorous move to prevent Chinese companies from listing on the US stock markets for raising capital. A few days ago, a Chinese company, Didi Inc., was listed on the New York Stock Exchange and submitted an IPO. Within days of the IPO, Chinese authorities took action against Didi Inc.’s app. This is the third time the Chinese regime has taken action against its own companies. Didi Inc. The Chinese authorities had earlier taken action against Alibaba and Tencent.
So far, about 250 companies, including eight Chinese state-owned companies, have been listed on the US stock exchange. The purpose of this registration is believed to be to raise a large amount of funds internationally, including in the United States. Chinese companies have so far managed to raise nearly $2 trillion from such listings. In the first six months of this year, 34 Chinese companies raised about $12.5 billion from the US stock markets.
