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Chinese companies rush for US IPOs ahead of new restrictions

Startups seek more than $5bn before stricter auditing rules take effect

An Xpeng Motors showroom at the company's headquarters in Guangzhou, China.   © Reuters

HONG KONG -- Chinese companies are rushing forward with plans to raise more than $5 billion in initial public offerings in New York ahead of new U.S. rules that would effectively shut off this funding channel.

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