Chinese tech companies are delaying initial public offerings and accepting lower valuations as a combination of tensions with the United States and waning investor appetite chills the sector, reported the Financial Times.
The amount of private
equity invested in Chinese tech in the year to date has fallen to $6.3 billion,
down from $16.3 billion in the same period last year, according to data from
Refinitiv.
Valuations for Chinese tech startups are down 20 to 30% this year from their
peaks in the first half of last year, said the Financial Times, affecting
several large Chinese companies including Didi Chuxing and Bytedance.