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Hong Kong stands to win from China clampdown on offshore IPOs

Beijing's probes of companies listed in US may spur interest in nearby market

Baidu is one of a string of New York-listed Chinese technology companies to have secured a place on the Hong Kong Stock Exchange through a local offering since 2019.    © Reuters

HONG KONG -- Moves by China to crack down on listings by its companies on U.S. markets are set to redirect a major portion of the IPO flow to Hong Kong, as technology companies' thirst for capital and backers' hopes to realize profits on their investments remain strong.

The clampdown is already causing Chinese companies in the midst of U.S. offerings to respond to possible risks from regulators at home, in the wake of Didi Global's troubled initial public offering.

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