China Enterprise went to Europe to raise funds, the first super in the United States

The British "Financial Times" September 7th article, the original title: accepts the listing of Chinese companies to raise funds. For the first time in Europe, it surpasses the FCG of the United States London and Zurich for the first time. This year, the funds raised by Chinese companies through stock sales in Europe are more than five times that of the United States. These financing activities marked the first transaction volume of Chinese companies in Europe for the first time in New York, and also highlighted the interest relationship between Beijing and Washington with a milestone audit supervision and cooperation agreement.

According to relevant data, five Chinese companies raised more than $ 2.1 billion in stock exchanges in Zurich and London this year. In contrast, companies listed in New York raised a total of less than $ 400 million in funds. Zurich especially benefits from the new interconnection mechanism with the China Stock Exchange and the relatively low transparency of the company's audit.

In the first half of last year, Chinese companies listed on Wall Street raised $ 12.4 billion, but the channel was almost closed in July 2021. The long -term disputes between the two countries' inspection of the audit documents of China Enterprises around the United States regulators have further deteriorated, which may cause Washington to ban all Chinese companies from transactions in 2024. The Chinese government has made comprehensive reforms on the rules of overseas listing overseas, and strictly managed from technology to education and other industries.

The partner of a Chinese law firm in China said: "Chinese regulators say that dialogue with the United States is ongoing, and the Hong Kong market is small, so let's see the European market -Britain, Switzerland and Germany." Agreement.

The Shanghai and Shenzhen Exchange signed an agreement in July to allow Chinese companies to be listed on the Swiss Stock Exchange through an interconnection mechanism through an interconnection mechanism. Since the plan was launched, 4 Chinese companies have raised $ 1.5 billion. Chinese financial companies are also expanding to European financial centers. In June this year, CICC became the first Chinese member of the Swiss Stock Exchange. CEO of Huatai Securities, China's second largest securities company, said last month that the company plans to obtain a permit for stock transactions in Zurich and Frankfurt. Another Chinese company was listed in London this year to raise nearly $ 660 million.

"The listing of Moszes and Frankfurt in Zurich and Frankfurt, the partner of the Hong Kong Miabo Law Firm, said that China's securities issuers are more and more capable of contacting continental investors in Europe." But he also reminded that It is unlikely that European stock sales are unlikely to compare the transaction flow of Chinese companies in New York. Over the past two decades, Chinese companies' stock sales on Wall Street have raised more than $ 100 billion. A person involved in the establishment of the China -Swiss stock market interconnection said that this mechanism is attractive to China because it is different from the US standards. (Author Hudson Locket, etc., translated by Chen Junan) ▲

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