Big US funds stake claim on quarter of Kuaishou's $5.4bn IPO

Chinese short-video app backing comes despite tense Washington-Beijing relations

A Kuaishou Technology booth at a trade fair in Beijing in September 2020. The company operates apps that allow users to upload short videos as well as livestream programs. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

January 25, 2021 18:20 JST

HONG KONG -- Major U.S. fund managers including BlackRock and Fidelity are among 10 cornerstone investors in Chinese short-video platform Kuaishou Technology's $5.4 billion initial public offering, at a time when the relationship between the world's two largest economies is at its lowest point in decades.