Next China: Chinese IPOs Seek Refuge in Hong Kong

It may be time to end New York’s rivalry with Hong Kong for Chinese IPOs and declare Hong Kong the winner.

Over the past two weeks, China has in quick succession slapped Didi with a probe days after the ride-hailing company’s IPO, pledged to increase scrutiny of overseas share sales and introduced the need for firms to undergo a national security review of their data before listing abroad. Markets have interpreted these actions as Beijing frowning on selling shares in America.