London Daily

Focus on the big picture.
Wednesday, Oct 29, 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
United States and South Korea Conclude Major Trade Accord Worth $350 Billion
Hurricane Melissa Strikes Cuba After Devastating Jamaica With Record Winds
Vice President Vance to Headline Turning Point USA Campus Event at Ole Miss
U.S. Targets Maritime Narco-Routes While Border Pressure to Mexico Remains Limited
Bill Gates at 70: “I Have a Real Fear of Artificial Intelligence – and Also Regret”
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Amazon Announces 14 000 Corporate Job Cuts as AI Investment Accelerates
UK Shop Prices Fall for First Time Since March, Food Leads the Decline
London Stock Exchange Group ADR (LNSTY) Earns Zacks Rank #1 Upgrade on Rising Earnings Outlook
Soap legend Tony Adams, long-time star of Crossroads, dies at 84
Rachel Reeves Signals Tax Increases Ahead of November Budget Amid £20-50 Billion Fiscal Gap
NatWest Past Gains of 314% Spotlight Opportunity — But Some Key Risks Remain
UK Launches ‘Golden Age’ of Nuclear with £38 Billion Sizewell C Approval
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
Lakestar to Halt External Fundraising as Investor in Revolut and Spotify
U.S. Innovation Ranking Under Scrutiny as China Leads Output Outputs but Ranks 10th
Three Men Arrested in London on Suspicion of Spying for Russia
×