A NARRATIVE ON OVERSEAS LISTINGS BY CHINESE FIRMS

Qu Feng, Shang-Jin Wei (), Guiying Laura Wu () and Mengying Yuan
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Shang-Jin Wei: ��Columbia Business School and SIPA, Columbia University, 116th and Broadway, New York, NY 10027 USA
Guiying Laura Wu: Economics Division, School of Social Sciences, Nanyang Technological University, 50 Nanyang Ave, Singapore
Mengying Yuan: ��School of Economics and Finance, South China University of Technology, Guangzhou, P. R. China

The Singapore Economic Review (SER), 2024, vol. 69, issue 05, 1811-1844

Abstract: Overseas listings by domestic firms are one of the ways for a country to attract foreign capital. China leads the world in the number and value of overseas listings. This paper documents the evolution of Chinese firms’ initial public offerings outside mainland China. We pay special attention to the role of the listing criteria of various exchanges in this evolution. We discuss important reforms of the listing requirements in both mainland and Hong Kong and their effects on the listing location choices by Chinese firms. Finally, we examine the delisting pressure on Chinese stocks from the US exchanges from both the Chinese and US authorities.

Keywords: Overseas listing; listing requirements; stock exchange reforms; delisting pressure (search for similar items in EconPapers)
JEL-codes: F31 G10 G18 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1142/S0217590824420025

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