Chinese firms set for record US listings, undeterred by geopolitics, trade tensions

A record number of Chinese companies are seeking a US listing in 2025 as onerous domestic listing rules and the prospect of better valuations convince them to brave volatile trade relations and US calls for strict oversight of Chinese companies.

- 

SHANGHAI/HONG KONG -

In the first half of 2025, 36 mostly small and mid-sized Chinese companies went public in the US, following a record-breaking year of 64 in 2024, law firm K&L Gates said.

Many of those companies went public through special purpose acquisition companies (Spacs) - listed companies set up to buy mainly start-ups, making them public without having to go through the lengthy initial public offering (IPO) process.

Waiting to list on the Nasdaq are more than 40 Chinese companies, including a mobile advertising service provider and a traditional Chinese medicine maker, Chinese disclosure showed.

That number, which excludes confidentially filed listing applications, will take the annual tally of Chinese companies going public in the US to a new high if all materialize in 2025.

"I think it's a healthy year for Chinese IPOs. It will probably be a record year or near that," said Mr David Bartz, partner at K&L Gates, who has built a "robust" pipeline of Chinese clients seeking first-time share sales in the US.