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China tech

Baidu raises $3.1bn in Hong Kong 'homecoming' listing

Bilibili starts $3.2bn offer as China tech companies take shelter from US blacklist fears

Baidu is preparing to list on Hong Kong's stock exchange   © Reuters

HONG KONG -- Chinese online search company Baidu will raise $3.1 billion in Hong Kong, while short video app Bilibili on Wednesday launched a similarly sized offering as mainland companies trading in the U.S. accelerate listings here.

The companies are pressing ahead with so-called "homecoming listings" in Hong Kong as Washington turns the screws on Chinese tech groups with new rules aimed at their investors, suppliers and customers.

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