For two decades, Chinese tech firms have flocked to the U.S. stock market, drawn by a friendly regulatory environment and a vast pool of capital eager to invest in one of the world's fastest-growing economies. Now, the juggernaut behind hundreds of companies worth $2 trillion appears stopped in its tracks.
On July 10, Beijing announced that almost all businesses trying to go public in another country will require approval from a newly empowered cybersecurity regulator. This decision amounts to a death knell for Chinese initial public offerings (IPOs) in the United States, according to long-time industry watchers.
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