Chinese company listings on US stock exchanges have ground to a halt after a two-year boom as regulators in both countries step up scrutiny because of concerns over stock manipulation.
Just two Chinese companies have listed in New York since the start of January, compared with 19 in the same period last year, according to an FT analysis of public records. A record 126 Chinese initial public offerings occurred across 2024 and 2025.
The freeze follows months of tighter scrutiny by China’s securities regulator of offshore listings by domestic companies, with no new approvals granted since December. Nasdaq has also tightened listing standards, including by raising minimum fundraising thresholds and broadened its discretion to delay or deny IPOs it believes could be vulnerable to manipulation.