China’s onshore technology IPOs are on track for their strongest year since 2023 as Beijing seeks to bolster listings of chip and artificial intelligence companies in a push for tech self-reliance amid the country’s rivalry with the U.S.
Onshore IPO Rebound
Technology companies have raised a total of $3.1 billion from stock market listings in China this year to June 18, more than five times the volume in the year-earlier period, according to LSEG data.
Nearly 50 companies, including robotics startups and semiconductor firms, have applied for initial public offerings in Shanghai and Shenzhen, with fundraising plans totaling at least 126.1 billion yuan ($18.7 billion), according to Reuters calculations based on filings.
The pickup in onshore listing momentum comes as Chinese regulators said on June 17 that they would support listings of startups in ‘future industries’ like quantum technology, nuclear fusion, and brain-computer interfaces.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
