Wall Street reaps commissions bonanza from flood of Chinese IPOs

TOKYO/SHANGHAI -- U.S. brokerages earned record commissions from Chinese companies in the first eight months of 2020, as businesses and investors alike seek a slice of the booming American stock market.

Chinese companies paid over $600 million in commissions to U.S. brokerages for stock issuances in January-August, up 80% from a year earlier, according to Refinitiv.