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Jofie Yordan · · 1 min readMajor US-listed Chinese tech firms drop Hong Kong listing plans
US-listed Chinese tech companies, including Pinduoduo and Full Truck Alliance, are forgoing plans to list in Hong Kong, The Information reported, citing sources familiar with the matter.
The report said Pinduoduo has delayed discussions about a potential listing in Hong Kong. While Full Truck Alliance, a Chinese truck-hailing platform, has also dropped its original plan to list shares in Hong Kong in January.
The report comes after a US accounting watchdog said it had full access to the audits of Chinese stocks, which would let the regulators inspect and investigate firms in China.
Chinese tech giants such as Alibaba and JD.com have listed in Hong Kong to avoid the risk of potential delisting in the US due to political conflicts between Washington and Beijing.
See also: The Pinduoduo model takes hold in India
Editing by Thu Huong Le and Arpit Nayak
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