The Chinese Internet Giants' Adventure Ends On Wall Street

Experts believe that Chinese internet giants under pressure from Beijing should follow Didi Chuxing's lead and withdraw from the New York Stock Exchange.

AP - Mark Schiefelbein

Text by: RFI Follow

1 min

Is the adventure of Chinese companies on Wall Street heading towards the end?

The announcement of the withdrawal of "Chinese Uber" Didi Chuxing from the New York Stock Exchange is seen by analysts as the beginning of the withdrawal of other Chinese tech giants.  

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Despite the denials of the Chinese authorities, experts believe that the Chinese Internet giants under pressure from Beijing should follow

example

.

Indeed, Chinese companies have for the most part stopped raising funds by going public in the United States, according to the management company Renaissance Capital. 

In such a situation, these companies listed on the American markets suffer a double penalty since the values ​​of their securities fall.

On December 3, for example, after the announcement of Didi Chuxing's withdrawal, the values ​​of stocks of Chinese e-commerce heavyweights such as

and

 fell sharply on Wall Street. 

By leaving the American financial centers, these companies are also depriving themselves of significant financial resources since the American markets are the most important in the world. 

According to figures from a US government agency, some 248 Chinese companies were listed in the United States, with a market capitalization of $ 2.1 trillion.

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