Decoupling Threatens China’s Enduring Interest in US Capital

In the US, Chinese insurance broker Yuanbao Inc. isn’t a household name on Main Street. It’s unlikely to be known by many on Wall Street, either.

But that didn’t stop the Beijing-based company from raising $30 million when it listed on the Nasdaq Stock Market last month. Its shares briefly soared as much as 93% above their initial price before retreating. And it’s not alone: Tea chain Chagee Holdings Ltd. raised $411 million in its US initial public offering last month while also seeing its shares rally.