Chinese listings in the United States have reached a record $12.8 billion so far this year, according to Refinitiv data, as companies swooped in to capitalize on the U.S. stock market reaching daily record highs.
from signing up new users just days after its blockbuster IPO. They followed up with crackdowns on technology and private education companies. The agency has been under intense pressure from U.S. lawmakers to take a tougher line. A group of senators including Republicans John Kennedy and Bill Hagerty wrote to SEC chair Gary Gensler this week urging "thorough investigations of U.S. listed Chinese companies' concerning lack of transparency."
Some 418 Chinese companies are listed on U.S. exchanges, according to Refinitiv. The S&P/BNY Mellon China Select ADR Index, which tracks the American depositary receipts of major U.S.-listed Chinese companies, has lost 22% of its value year-to-date, compared to an 18% rise in the S&P 500 index.
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