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Yu Gong (center), Founder and CEO of China-based iQiyi (IQ), rings the Opening Bell at Nasdaq MarketSite in Times Square with employees and investors in celebration of its initial public offering (IPO) on March 29, 2018 in New York City.
The political sparring between Washington and Beijing hasn’t dampened the interest of Chinese companies wanting to list shares in the U.S.
Chinese initial public offerings in the U.S. accounted for about a fifth of U.S. IPO proceeds in the last three months, their best quarter by proceeds in three years, according to Renaissance Capital. The firms, mostly lesser-known, smaller Chinese companies, are often drawn to the prestige associated with the New York stock exchanges.
“As a U.S.-listed company it’ll be easier to attract top talent from Chinese internet companies,” Yipeng Li, chief financial officer of Sunlands Online Education, told CNBC on the day of its IPO, March 23.