The door is closing on Chinese tech IPOs on Wall Street
CNN
Tough US laws requiring audits for foreign companies. A growing crackdown by Beijing that threatens to touch every part of the Chinese tech industry. A botched public offering by one of China's most prominent tech firms.
Things are looking pretty dire for Chinese tech right now, especially firms that have been considering overseas listings as a way to raise money. The chill created by tensions, both within China's borders and with its greatest rival, could bring overseas investment in Chinese tech to a grinding halt. Investors are already rattled. China's unprecedented tech crackdown has wiped $1 trillion off the value of overseas-listed Chinese tech stocks since February — one of the worst sell-offs in history, Goldman Sachs analysts said in a research report last week.More Related News
When prosecutors make their final pitch Tuesday to a New York jury for why they should convict Donald Trump of a slew of business crimes, they’ll face the burdensome task of weaving together weeks of testimony and evidence they say proves the former president committed felonies to help his 2016 campaign.