London Daily

Focus on the big picture.
Wednesday, Oct 08, 2025

China-based companies raised $11.7 billion through U.S. IPOs this year, the most since 2014

China-based companies raised $11.7 billion through U.S. IPOs this year, the most since 2014

Investor appetite for Chinese companies in U.S. stock markets rose to a six-year high in 2020 despite tensions between the two countries.

China-based companies raised $11.7 billion through 30 initial public offerings in the U.S. this year, according to a Dec. 17 report from Renaissance Capital.

That marks the highest amount of capital raised since 2014, when 16 China-based companies raised $25.7 billion, the report said. Alibaba accounted for the bulk of that year’s raise as the biggest IPO to date at the time.


Major Chinese IPOs in the U.S. this year included financial technology company Lufax and online real estate platform Ke, both of which ranked among the ten largest public offerings in America this year, according to Renaissance Capital.

Walmart-invested grocery delivery company Dada, electric vehicle start-ups Xpeng and Li Auto and BlueCity, owner of China’s largest LGBTQ dating app, were among other major listings in New York this year.

Chinese companies’ enthusiasm for U.S. markets came despite a tumultuous year for relations between the world’s two largest economies. In addition to ongoing trade tensions, U.S. President Donald Trump’s administration has sought to keep American capital from investing in Chinese assets.

The coronavirus pandemic has also slowed cross-border business activity and led to an international dispute over whether Covid-19 originated in China as well as how much China is to blame for the pandemic.

Earlier this year, some Chinese businesses delayed their plans for listing in the U.S. amid the pandemic as well as the revelation of an accounting scandal at Luckin Coffee in April. Nasdaq delisted the company this summer, just about a year after the Chinese start-up became the first company since 2000 to achieve a $3 billion valuation in less than 24 months.

Other Chinese companies have fallen dramatically. Since listing on the New York Stock Exchange in January, shares of Phoenix Tree have plunged about 76% due to concerns about the financial health of subsidiary Danke, a residential rental company.

Phoenix Tree is the worst-performing IPO of the year, Renaissance said. Overall, the firm’s analysis found Chinese companies that raised at least $100 million this year have, on average, netted total returns of 81%.

The Renaissance Capital data included Hong Kong-based companies. The analysis excluded unique IPO situations such as listings of special-purpose acquisition companies (SPACs) and best-effort IPOs, as well as deals raising less than $5 million or companies with a market capitalization of less than $50 million.

Newsletter

Related Articles

0:00
0:00
Close
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
×