The number of Chinese groups listing their shares in the US has grown faster under the Trump administration than during that of predecessor Barack Obama, despite moves to decouple the two economies, reported the Financial Times.
Since Donald Trump assumed the presidency almost four years ago, 102 Chinese companies have debuted on the New York Stock Exchange and Nasdaq, raising $25.5 billion, according to data from research firm Dealogic.
That nearly equals the 105 initial public offerings of Chinese companies held in the US during Obama’s eight years in office, which raised a total of $41 billion thanks in part to the blockbuster $25 billion listing of ecommerce group Alibaba in 2014, said the FT.
The Trump administration has threatened to delist Chinese companies that trade on Wall Street if they do not provide US regulators with full access to their audit reports, a practice forbidden by Beijing. Despite that, the number of Chinese companies listed in the US rose by more than a quarter over the past year to almost 220 as of the start of October, according to a report from the United States-China Economic and Security Review Commission.