The threat of getting us from the US exchange increases and Hong Kong stands to take advantage of

The Chinese ADRS is a capitalized director general or a Chinese market-listed Chinese company or a Chinese market, which will all strike Chinese companies in the United States, taking into account a question?

JD.com, including China’s largest companies, including JD.com (47) Fortune Global 500), Alibaba (№ 70) and PDD Holdings (№ 442). However, these giants and many small companies can have an existence as US trade companies interested in Beijing, which launched by US President Donald Trump.

Last week, several Republican members of the congress, including John Moolaarar, including the chairman of the house of the Chinese Communist Party, the Choice Committee, Recently rejected The Department of Securities and Exchange Commission Paul Atkins “Serious concerns about the continuity of Chinese companies on the US exchange companies.”

In a letter reported this Financial times, MPs, Giants like Alibaba and JD.com, large and small Chinese companies such as Chinese companies, Alibaba and JD.com Pony.Ai.

‘Everything is on the table’

Concerns over delisting Since the end of FebruaryTrump revived Chinese companies in the US first investment plan to hit the US exchange. In his memory, Trump determined that officials supported the audit standards for Chinese companies and appointed Explore the structures These firms use it for a list of foreign exchange.

Since then, leadership officials have refused to report to the US-list Chinese companies and celebrate the celebration in an interview with the Treasury Secretary Scott in mid-April “Everything is on the table“

Sandeep Rao says “threats are also important.” Sandeep Rao, researcher in leverage shares.

The Nasdaq Golden Dragon Chinese index, which followed Chinese companies listed in the United States, is from “Azadlig Day” to 7%. Hung Kong Seng Tech index, which is a 4.6% reduction in technological companies sold in China (including trading in the United States) in China (including trade in the United States).

Chinese companies have long returned to the deep and liquid markets in the United States to raise capital. IPO in Alibaba’s New York Exchange in 2014 Raised $ 25 billionAt that time, the world’s largest IPO and only Saudi Aramco was replaced by the 2019 list in Riyadh.

By the end of March, 286 Chinese companies are given in US stock exchanges, total market value of $ 1.1 trillion, according to the stock exchange information Southern Chinese Morning Writing.

However, US investors were defected on poor audit standards among Chinese companies. Technically, the companies listed in the United States need to open our books to us regulators, but Chinese officials are often subject to national security. In 2020, the Chinese coffee chain inflated the sale of Luckin coffee, which was subtle for sale, the last straw that moves without the reporting of foreign companies to the holding Ordered Chinese companies To risk risking US regulators or US exchange.

After talks with years, in 2022, China agreed to review the regulatory verification documents Chinese Hong Kong CityLift delisting threats and soothing investors.

It was still damaged, because the US Chinese companies have begun to investigate the secondary lists in Hong Kong. Alibaba last year Improved Hong Kong list The Chinese E-commercial is a key list that allows you to hit mainland Chinese investors through the south-hay connection scheme of the city.

Some investors said, “The United States tradition has passed to Hong Kong ticker to Hong Kong ticker,” said Rao.

Hong Kong may win

In mid-April, Goldman Sachs, US institutional investors spread about $ 830 billion in Chinese companies, Hong Kong and US markets. China is about $ 250 billion in ADR.

Again, “foreigners, especially the owners of the United States, especially the US owners, in the place of five years ago,” said Cameron Chui, a capital strategist for ASIA Private Bank, asked journalists when asked for the opportunity for the slices on Tuesday. “Risk is definitely in meaningful.”

RAO notes that US investors can still trade in Chinese companies, even if they can be deleted, only less protected OTC market. Tencent, one of China’s largest technological companies, is trading in Hong Kong, also trades in the US OTC market.

Meanwhile, Chinese companies are already arguing about other options. Shanghai Auto Show, Pony.ai CEO James Peng’s second-class James Peng said Hong Kong was possibleOf course, even if the next generation of the beginning has confirmed the next generation.

Geely Auto makes also take His home brand ZEEKR Private, listed in the United States, only one year After New York IPO, facilitate the operations of the Chinese car giant and increase the profitability.

In mid-April, Goldman Sachs, most likely, the Chinese company, which can be suitable for a Hong Kong list (second or initial list), PDD, retail exchange trading platform and digital logistics platform and digital logistics platform, highlighted Chinese companies.

However, some Chinese companies are geopolitics to watch the US list. Çageee, Chinese tea chain, removed $ 411 million US ipo, debut in NASDAQ on April 17.

Hong Kong seems more attractive or at least, as a less bad place for stocks. In the city, the primitive list opens the capabilities of Mainland Chinese investors who trade the company’s shares. Southbound Flows (ie Mainland China Hong Kong) has increased in recent monthsAs in Mainland Chinese investors are a barrel Ai boom It is represented by companies such as Alibaba and Semiconductor International Production Corporation.

“If you are a list of US, at least, at least, at least, it is very sensitive to being a medium list in Hong Kong,” Rao said.

The city passes through an IPO revival, because Mainland Chinese companies now hope to hit global capital through the “foreign” list. Last November, a $ 4 billion IPO by MideaThe manufacturer of the world’s largest household appliances hit things; Blackish ice cream chain, which is more space than McDonald’s, followed in March.

Hong Kong, at least more blockbuster IPOS waiting in the coming months. The main supplier of the batteries for Tesla is Hopefully, hopes Earn $ 5 billion in the near future in Hong Kong. (JPMorgan and the American Bank helps IPO The research of the Congress.) Chinese car manufacturer chery auto Also to bite To the Hong Kong list to collect $ 1.5 billion.

But Hong Kong is a perfect replacement for New York. “There are no positive ones. The liquidity in Hong Kong is not as in the United States,” he said on Wednesday.

This story was first displayed Fortune.com

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