NEW YORK -- Like many Chinese initial public offerings before it, news aggregation service Qutoutiao had a strong debut when it hit the market last month. Rather than list in Shanghai or Hong Kong, however, it opted for the Nasdaq -- even though most U.S. investors would have a hard time pronouncing its name and few have ever encountered its app.
For many Chinese tech companies, the New York markets -- home to Alibaba Group Holding, China's most valuable listed company -- remain the preferred listing venues despite efforts by authorities in China to promote domestic exchanges.
