2018 is a record year for Chinese companies on the US market

Pinduoduo CEO Colin Huang.
The company went public on the US market earlier this
year.
YouTube/Sky9
Capital

• More companies are going public in the United States,
  according to a study by institutional research firm Renaissance
  Capital.
• So far in 2018, 23 Chinese companies have gone public on the
  US markets.
• Even more Chinese companies are planning to enter the US
  markets by the end of the year. 

 

This has been a landmark year for Chinese companies on American
markets.

According to a study by institutional research firm Renaissance
Capital,
which was first reported by VentureBeat,  23 Chinese
companies have gone public in the US this year — more than any
other year since 2010. In the third quarter of the year alone,
ten Chinese companies went public, raising an accumulated
$3.3 billion USD. 

Among them are startups like the fast-growing ecommerce giant
Pinduoduo, Beijing-based electronics company Xiaomi,
and the electric car manufacturer Nio. And even more Chinese
companies are eyeing the US market for public offerings before
the year is up.

Read more:


How Pinduoduo became a $23 billion company in less than 4
years

On Tuesday, the music division of Tencent and largest Chinese
streaming service, Tencent Music,
filed to go public in the US. At least four more Chinese
companies are expected to appear on the US market, including
scooter manufacturer Niu and a casino operator, according to
Renaissance Capital’s report.

Despite President Donald Trump’s trade war, China’s tech sector
is still testing out the US public markets. It also shows that
more and more Chinese companies are eager to position themselves
as contenders on the global stage. Ron Cao, a partner at
Shanghai-based investment firm Sky9 Capital, which spearheaded
early investments in China’s Pinduoduo, has said that Chinese
startups aren’t simply interested in overtaking Asia’s
markets. 

“We’re seeing more and more international trends,” Cao said in an
interview with Business Insider earlier this year. “We’re seeing
how we can take advantage of where we’re living in China to take
an advantage of things globally. US companies have been very
successful globally, and we’re thinking that more Chinese
companies will become successful on a global scale as well.”