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Tech IPOs Flourish in China Amid Tensions With U.S.

Photographer: Qilai Shen/Bloomberg

The makeup of China’s equity capital market is changing as it attracts more tech companies amid rising tensions with the U.S.

Technology listings account for about a third of the $38 billion raised through initial public offerings in the mainland this year -- their share growing more than three-fold since last year to 35% of the total, data compiled by Bloomberg show. That’s significantly cut into the share of finance firms, which has fallen to 3% from about 28% last year.