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<ul class="summary-list"><li>Shares of two Chinese tech companies - <keyword id="11240755" type="COMPANY" weightage="60" keywordseo="full-truck-alliance">Full Truck Alliance</keyword> and <keyword id="11583548" type="UNKNOWN" weightage="60" keywordseo="kanzhun">Kanzhun</keyword> - sank Tuesday following the launch of regulatory review in China. </li><li>China's cybersecurity regulator said the reviews are aimed at curbing national security risks. </li><li>Didi shares plunged after China ordered the ride-hailing app removed from stores. </li></ul>Shares of two Chinese tech companies listed in the US dropped sharply Tuesday after a Chinese regulator put them under a security review days after the country launched a similar action against ride-hailing service <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi</a>. China's Cybersecurity Review Office will review two truck-hailing apps run by <a href="https://markets.businessinsider.com/stocks/ymm-stock">Full Truck Alliance</a> and an online-based recruitment app from <a href="https://markets.businessinsider.com/stocks/bz-stock">Kanzhun</a> "in order to prevent national data security risks, maintain national security, and protect the public interest," <a href="http://www.cac.gov.cn/2021-07/05/c_1627071328950274.htm">according to a translation of Monday's announcement.</a> Shares of Full Truck Alliance sank 22% on the New York Stock Exchange then trimmed the loss to 19%. Kanzhun's Nasdaq-listed stock dropped 11%. Each company made its trading debut in the US in June. The regulator on Friday used that same language in <a href="https://mp.weixin.qq.com/s?__biz=MzAwMjU0MjIyNw==&amp;mid=2651386082&amp;idx=1&amp;sn=dbb99a488acbf743607dd515c8dcced6&amp;chksm=81348f1eb6430608c4f600348bb02cb610987c5b8a734ce318765d53910f921e9e00ec2a3cb6&amp;mpshare=1&amp;scene=1&amp;srcid=07028yg5Rdmv187dSOF6DSA0&amp;sharer_sharetime=1625225337715&amp;sharer_shareid=0c2338dd3c8254d7e502a2f495279159&amp;exportkey=AvjZfbm0g2heFP2qoJbHVAM%3D&amp;pass_ticket=269ahnyoCpX1vaqCvywYGFJr%2F%2BfvyE7lt%2B8XCTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rdTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rd0#rdTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rd">launching a data security review of ride-hailing app Didi</a>, a move that has since led to a <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-china-crackdown-us-ipo-ride-hailing-uber-2021-7">sharp selloff of the company's shares</a> since their trading debut in the US last week. <a href="https://markets.businessinsider.com/news/stocks/tencent-sheds-65-billion-government-crackdown-ant-group-2021-3">China has been clamping down</a> on technology companies over issues ranging from security to anti-competitive behavior. Full Truck Alliance and Kanzhun won't be able to add new users while the Cybersecurity Review Office works on the reviews. The office runs under the <keyword id="2532678" type="PERSON" weightage="60" keywordseo="Cyberspace-Administration-of-China">Cyberspace Administration of China</keyword>. Didi shares on Tuesday sank as much as 25% and fell below their IPO price of $14 after Chinese authorities on Sunday ordered app stores<a href="https://markets.businessinsider.com/news/stocks/didi-app-suspended-china-personal-data-collection-2021-7?utm_source=markets&amp;utm_medium=ingestgest"> to remove Didi Chuxing</a> from their platforms. The move came as the Cyberspace Administration of China cited violations in the collection and use of personal data by Didi.Chinese regulators launched the review on Friday. Didi<a href="https://markets.businessinsider.com/news/stocks/didi-ipo-retail-favorite-chinese-ride-hailing-company-2021-6?utm_source=markets&amp;utm_medium=ingestgest"> began trading</a> last week on the New York Stock Exchange, marking the largest IPO of a Chinese company since the 2014 debut of e-commerce heavyweight <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a>. Full Truck Alliance, which raised $1.6 billion in its IPO, links truckers with companies that need their goods moved. Kanzhun operates recruiting services under the Boss Zhipin mobile app and debuted in a $912 million IPO.

China expands security review beyond Didi, sending shares of 2 US-listed Chinese tech companies plunging

<ul class="summary-list"><li><keyword id="11906894" type="UNKNOWN" weightage="60" keywordseo="didi" source="Orion">Didi</keyword> shares surged nearly 70% on Monday after a report said China is ending an investigation into the company.</li><li>China, which launched a security probe last year, will allow the ride-hailing app to add new users again. </li></ul><a href="https://markets.businessinsider.com/stocks/didi-stock">Didi Global</a> shares jumped by nearly 70% during Monday's session following a <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fchina-to-conclude-didi-cybersecurity-probe-lift-ban-on-new-users-11654501320%3Fmod%3Dhp_lead_pos7">Wall Street Journal report</a> that China is ending its cybersecurity investigation of the ride-hailing app, a move that signaled Beijing is continuing efforts to bolster economic growth. Chinese regulators are wrapping up their yearlong probe into Didi and two other US-listed tech companies, <a href="https://markets.businessinsider.com/stocks/ymm-stock">Full Truck Alliance</a> and online recruitment firm <a href="https://markets.businessinsider.com/stocks/bz-stock">Kanzhun</a>, the report said, citing unnamed sources. A ban on the companies adding new users will be lifted and authorities will allow Didi's mobile apps back on domestic app stores, perhaps as early as this week. Didi surged as much as 68% to $3.10 in heavy volume before paring the gain to 37%. Full Truck Alliance charged higher by 10% and Kanzhun gained 23%. The Journal said Chinese authorities are expected to deliver a conclusion of the investigation into the companies and are expected to face financial penalties. The Cyberspace Administration of China, the country's internet regulator, in July 2021 announced an investigation into Didi and ordered its apps removed from domestic app stores, citing national data security risks. The move came days after Didi launched its IPO on New York Stock Exchange. Priced at $14, the stock soared <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-ipo-chinese-firm-alibaba-ride-hailing-2021-6">as much as 28% on its first day of tradin</a>g, valuing the company at $86 billion.The regulatory turmoil surrounding Didi since led the company to move toward a delisting of its shares from the NYSE. Beijing in late April suggested it would <a href="https://markets.businessinsider.com/news/stocks/alibaba-stock-price-chinese-tech-stocks-regulation-economy-growth-stimulus-2022-4">dial down its crackdown on the technology sector</a> and pledged further stimulus measures as the country faces its slowest growth in three decades. The country has projected economic expansion of 5.5% this year, which would be the slowest pace of growth since 1991. Last week, Shanghai began emerging from two months of lockdowns aimed at limiting the spread of COVID in the financial hub. Meanwhile, cases are reportedly rebounding in Hong Kong.

Didi soars 68% after report says China is set to end cybersecurity probe and allow new users on the ride-hailing app

<ul><li>2021 was a record year for IPOs, with 2,388 new companies listing their shares around the globe.</li><li>The red-hot <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo" source="Orion">IPO</keyword> market this year occurred amid a relentless grind higher in the broader <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>.</li><li>These are the 10 best performing US stocks that went public in 2021.</li></ul><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp500-63rd-record-close-tech-stocks-2021-11">Record highs in the stock market</a> have facilitated a boom in new company listings this year, with a record 2,388 firms going public around the globe, according to <a href="https://www.ey.com/en_gl/ipo/trends">data from Ernst and Young.</a>Helping drive a resurgence in new company listings were SPACs, which peaked in early 2021 after a surge last year. Altogether, companies have raised $453 billion in proceeds from their IPOs, representing a 67% increase relative to 2020 and a more than doubling from 2019 levels.Firms going public have predominately been in the technology sector, and the Nasdaq Exchange captured the most IPOs relative to other global stock exchanges. <a href="https://markets.businessinsider.com/news/stocks/rivian-stock-price-ipo-debut-valuation-100-billion-ford-gm-2021-11">High profile IPOs</a> this year include electric vehicle startups <a href="https://markets.businessinsider.com/stocks/rivn-stock">Rivian</a> and <a href="https://markets.businessinsider.com/stocks/lcid-stock">Lucid Group</a>, and direct-to-consumer brands <a href="https://markets.businessinsider.com/stocks/bird-stock">Allbirds</a> and <a href="https://markets.businessinsider.com/stocks/wrby-stock">Warby Parker.</a>And with more than 900 IPOs this year on US exchanges alone, there have been plenty of big winners and losers. These are the 10 best performing US IPOs of 2021 of companies with at least a $1 billion market capitalization. All performance data is as of December 15 and was sourced from <a href="https://koyfin.com">Koyfin.</a> (However, the chart action shown below reflects performance based on the opening price of a stock on its first day of trades, not its IPO price.)10. Prometheus BiosciencesTicker: <a href="https://markets.businessinsider.com/stocks/rxdx-stock">RXDX</a> Gain Since IPO Price: 72% Market Capitalization: $1.3 billion<div type="image" title="Prometheus stock price" height="512" width="630" msid="88306487" hostid="261"></div>9. Verve TherapeuticsTicker: <a href="https://markets.businessinsider.com/stocks/verv-stock">VERV</a> Gain Since IPO Price: 75% Market Capitalization: $1.6 billion<div type="image" title="Verve stock price" height="512" width="622" msid="88306488" hostid="261"></div>8. TaskUsTicker: <a href="https://markets.businessinsider.com/stocks/task-stock">TASK</a> Gain Since IPO Price: 91% Market Capitalization: $4.3 billion<div type="image" title="Taskus stock chart" height="500" width="624" msid="88306489" hostid="261"></div>7. KanzhunTicker: <a href="https://markets.businessinsider.com/stocks/bz-stock">BZ</a> Gain Since IPO Price: 93% Market Capitalization: $14.7 billion<div type="image" title="BZ stock price" height="503" width="627" msid="88306491" hostid="261"></div>6. Dutch BrosTicker: <a href="https://markets.businessinsider.com/stocks/bros-stock">BROS</a> Gain Since IPO Price: 98% Market Capitalization: $7.5 billion<div type="image" title="Dutch Bros stock chart" height="494" width="627" msid="88306493" hostid="261"></div>5. DoximityTicker: <a href="https://markets.businessinsider.com/stocks/docs-stock">DOCS</a> Gain Since IPO Price: 108% Market Capitalization: $10.1 billion<div type="image" title="DOCS stock chart" height="493" width="627" msid="88306494" hostid="261"></div>4. AffirmTicker: <a href="https://markets.businessinsider.com/stocks/afrm-stock">AFRM</a> Gain Since IPO Price: 111% Market Capitalization: $29.0 billion<div type="image" title="Affirm stock chart" height="492" width="627" msid="88306495" hostid="261"></div>3. Global-e OnlineTicker: <a href="https://markets.businessinsider.com/stocks/glbe-stock">GLBE</a> Gain Since IPO Price: 120% Market Capitalization: $8.0 billion<div type="image" title="GLBE stock chart" height="500" width="631" msid="88306497" hostid="261"></div>2. ZIM Integrated Shipping ServicesTicker: <a href="https://markets.businessinsider.com/stocks/zim-stock">ZIM</a> Gain Since IPO Price: 208% Market Capitalization: $5.8 billion<div type="image" title="ZIM stock chart" height="540" width="629" msid="88306498" hostid="261"></div>1. Digital World AcquisitionTicker: <a href="https://markets.businessinsider.com/stocks/dwac-stock">DWAC</a> Gain Since IPO Price: 508% Market Capitalization: $1.9 billion<div type="image" title="DWAC stock chart" height="535" width="626" msid="88306500" hostid="261"></div>

These were the 10 best performing IPOs of 2021 amid a record year for stock market debuts

<ul class="summary-list"><li>Didi shares plunged 25% on the US stock market on Tuesday after China cracked down on its app.</li><li>The ride-hailing company listed on the New York Stock Exchange on June 30 in a $68 billion IPO.</li><li>Chinese authorities are taking a tough line with Didi and other large tech companies.</li></ul>Chinese ride-hailing app <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi</a> dropped as much as 25% on the US stock market on Tuesday after China cracked down on the company, only days after its blockbuster initial public offering in New York.Didi's US-listed shares were last down 21.98% by 9.50 a.m. ET, to $12.10. US stock <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> reopened on Tuesday after Monday's 4th of July holiday.Chinese authorities on Sunday ordered app stores<a href="https://markets.businessinsider.com/news/stocks/didi-app-suspended-china-personal-data-collection-2021-7"> to remove Didi Chuxing</a>, the country's biggest ride-hailing company, from their platforms. The Cyberspace Administration of China cited serious violations in the collection and use of personal data.The crackdown came less than a week after Didi's shares<a href="https://markets.businessinsider.com/news/stocks/didi-ipo-retail-favorite-chinese-ride-hailing-company-2021-6"> started trading</a> on the New York Stock Exchange in one of the biggest IPOs of the last 10 years. Didi hit the market on Wednesday, with shares closing at $14.14, giving the app a market capitalization of $68 billion.The company said China's move to lock out new users may have an adverse impact on its revenue in its home market.<a href="https://markets.businessinsider.com/stocks/uber-stock">Uber</a>, which is the second-biggest US holder of <keyword id="11545284" type="UNKNOWN" weightage="60" keywordseo="didi-stock">Didi stock</keyword>, fell 1.82% when markets opened.Read more:<a href="https://www.businessinsider.com/uber-policy-team-fights-gig-economy-ride-hailing-policy-battles-2021-6"> POWER PLAYERS: These 9 Uber executives are fighting the company's increasingly messy gig-economy policy battles</a>Shares of <keyword id="11240755" type="COMPANY" weightage="60" keywordseo="full-truck-alliance">Full Truck Alliance</keyword> and Kanzhun, two Chinese tech companies who also recently listed in the US, dropped 19.95% and 9.38% respectively. The declines came after China expanded its clampdown to put new restrictions on the two companies on Monday."China is cracking down on big tech, but the decision to remove [Didi's] app from domestic platforms appears to be timed for maximum impact and embarrassment," said Neil Wilson, chief market analyst at trading platform Markets.com."China's Communist Party is bristling at the number of Chinese companies listing in the US this year, but there is a genuine concern at the heart of this - regulators are not impressed at the way Didi and other Chinese tech companies handle data."Axel Springer, Insider Inc.'s parent company, is an investor in <keyword id="1042120" type="PERSON" weightage="60" keywordseo="Uber">Uber</keyword>.

Didi's US shares plunge 25% after China cracks down on ride-hailing app, just days after $68 billion IPO

<ul class="summary-list"><li>LinkDoc has suspended plans for a US IPO, the first to do so after Beijing's crackdown, Reuters reported.</li><li>The Alibaba-backed medical-data firm, which filed for its IPO in June, was set to price its shares Thursday.</li><li>The decision comes after regulators clamped down on Didi, whose shares have fallen 27% post-IPO.</li></ul>Chinese medical-data company LinkDoc Technology has suspended its plans for an initial public offering in the US as Beijing cracks down on domestic companies with overseas <keyword id="585366" type="PERSON" weightage="60" keywordseo="listings">listings</keyword>, <a href="https://www.reuters.com/business/exclusive-chinas-linkdoc-shelves-211-mln-us-ipo-after-regulatory-crackdown-2021-07-08/?taid=60e6abd4fdc7d30001f58059&amp;utm_campaign=trueAnthem:+Trending+Content&amp;utm_medium=trueAnthem&amp;utm_source=twitterurce=twitter">Reuters reported</a> on Thursday. LinkDoc, which provides <keyword id="3106753" type="PERSON" weightage="60" keywordseo="medical-data">medical data</keyword> and research to pharmaceutical clients, is the first Chinese company known to have set aside US IPO plans as regulators tighten their grip. The tougher oversight is seen as President Xi Jinping seeking to control one of <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s most treasured resources - big data. On Tuesday, Chinese officials said they would <a href="https://markets.businessinsider.com/news/stocks/china-cybersecuirty-regulation-chinese-firms-overseas-didi-cybersecurity-probe-2021-7">step up scrutiny</a> of cross-border data flow and sources of funding for securities investments, among other market-related measures.LinkDoc, which filed for its IPO in June, was due to price its offering after the US market close on Thursday. It was seen as raising as much as $211 million by selling 10.8 million shares priced between $17.50 and $19.50, Reuters reported, citing three sources with direct knowledge of the matter.In a series of events that began on Friday and intensified during the US holiday weekend, China's cybersecurity regulator <a href="https://www.bloomberg.com/news/articles/2021-07-05/didi-probe-needed-for-national-security-global-times-says">began investigations into three companies</a> that recently listed in New York - ride-hailing service <a href="https://markets.businessinsider.com/stocks/didi-stock?utm_source=markets&amp;utm_medium=ingestgest">Didi Global</a>, Uber-like trucking startup Full Truck Alliance, and online-recruitment platform <a href="https://markets.businessinsider.com/stocks/bz-stock">Kanzhun</a>.Regulators ordered the <a href="https://www.businessinsider.com/didi-app-suspended-china-personal-data-collection-2021-7">removal of Didi</a> from app stores on Sunday, days after its New York IPO, saying that the company had been illegitimately collecting and using personal data.US-listed shares in the tech companies have fallen in the wake of the heightened scrutiny. Didi was last trading 7% lower in Thursday's premarket session, and is down 27% since its IPO. LinkDoc's decision to suspend its IPO could be followed by other Chinese companies as they may wait for further clarification and pre-approval from different regulators.The company, whose investors include <keyword id="302749" type="COMPANY" weightage="60" keywordseo="Alibaba">Alibaba</keyword>'s <keyword id="6354525" type="UNKNOWN" weightage="60" keywordseo="healthcare">healthcare</keyword> subsidiary and Temasek, was being advised by investment banks Morgan Stanley, Bank of America, and China International Capital for its listing, according to the report.LinkDoc didn't immediately respond to Insider's request for comment.Read More: <a href="https://www.businessinsider.com/its-coming-home-football-stocks-investing-economy-investing-deutsche-2021-7" target="_blank" rel="noopener noreferrer">It's coming home: Deutsche Bank breaks down the 3 ways the UK economy will benefit from UEFA Euros soccer</a>

Alibaba-backed LinkDoc drops plans for its US IPO after Beijing's crackdown on overseas listings, report says

<ul class="summary-list"><li><keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s assertive, nationalistic behavior - known as "wolf warrior diplomacy" - has come to the financial <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword>.</li><li>This week Beijing punished a Chinese tech company that listed on the New York Stock exchange, and announced rules to govern all Chinese companies listed abroad.</li><li>Consider this part of the Chinese Communist Party tightening its grip on power at home, and closing its doors power from abroad.</li><li>This is an <keyword id="6356002" type="UNKNOWN" weightage="100" keywordseo="opinion">opinion</keyword> column. The thoughts expressed are those of the author.</li></ul>It was only a matter of time before Beijing's heightened nationalism came to Wall Street.This week, Chinese authorities punished Didi, a ride sharing company, for its June 30 public debut on the New York Stock Exchange. Shortly after the Didi crackdown, Beijing announced new measures that could restrict Chinese companies going public abroad.What all this is telling us is that Beijing is no longer going to tolerate its tech stars making foreigners rich on foreign exchanges. And it is further evidence that China is closing its society and <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> to the West.<h2>Bring it all back home</h2>In order to more freely list on foreign stock exchanges, <a href="https://www.bloomberg.com/news/articles/2021-07-07/china-mulls-closing-loophole-used-by-tech-giants-for-u-s-ipos?srnd=premium">Chinese companies create something</a> called a "variable interest entity." In such an arrangement, a Chinese company creates another company in a tax haven like the Cayman Islands where foreigners can invest. The Chinese company then signs an agreement that gives control and profits to the Cayman entity, from which money is distributed to shareholders and the company back in China. For years, Beijing generally looked the other way when it came to VIEs.Now, according to <a href="https://www.bloomberg.com/news/articles/2021-07-07/china-mulls-closing-loophole-used-by-tech-giants-for-u-s-ipos">Bloomberg</a>, Beijing's new regulations are designed to limit the ability of Chinese companies to set up these entities. The proposed rules would govern what data can and can't be shared abroad, target "illegal securities activities," and set up extra-national laws Chinese companies would have to follow regardless of where they are listed.Didi shares are down around 20% since it's <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword>, in part because Beijing announced these measures, and in part because it has become a target for authorities at home. On July 2, the Cyberspace Administration of China announced it was investigating Didi. Two days later China's app stores were ordered to stop allowing users to download Didi. The CAC claims that Didi was illegally collecting user data. And perhaps that's true. But it's also likely that this is a signal that "wolf warrior" aggression - a kind of Chinese diplomacy named after a hyper-nationalistic film- has come to financial markets. <a href="https://www.marketwatch.com/story/didi-global-shares-slammed-along-with-full-truck-alliance-and-kanzhun-2021-07-06">Two other Chinese tech</a> companies listed in the US - Kanzhun and Full Truck Alliance - also had their downloads halted by Chinese regulators. The almost <a href="https://www.cnbc.com/2021/07/07/china-is-cracking-down-on-stocks-that-trade-on-us-exchanges-what-it-means-if-you-hold-them.html#:~:text=There%20were%20at%20least%20248,enterprises%20listed%20in%20the%20U.S.">250 Chinese companies worth $2 trillion</a> in market cap listed on major US exchanges should all be watching their backs.<h2>China is closing</h2>There are two main reasons for this seemingly sudden crackdown - one is China's increasing antagonism with the West, and the other is the Chinese Communist Party's own desire for power and self-preservation. Together they amount to the reality that China is once again closing its doors to the world, reversing the opening that began in the 1970s.As part of a larger crackdown on civil society, the Chinese Communist Party has been tightening its control over any sources of power that might challenge it at home. That includes tech billionaires like Alibaba founder Jack Ma, who has recently been publicly brought to heel by Beijing. And it includes <a href="https://time.com/6048539/china-tech-giants-regulations/">tech companies</a>, like Tencent and Pinduoduo, another e-commerce giant.Targeting tech companies that list abroad also puts pressure on Chinese companies to consider an IPO to list in Shanghai or Hong Kong instead. It is <a href="https://asia.nikkei.com/Business/Finance/Finance-leads-Hong-Kong-s-first-business-exodus-in-11-years">no secret</a> that China's encroachment into Hong Kong prompted an exodus of financial firms from the city. Making it the new landing place for Chinese tech companies to go public could help it maintain its status as a global financial center.It is also no secret that the US and China are at risk of what some call <a href="https://www.businessinsider.com/us-china-economy-tech-military-breaking-up-how-bad-2020-10">"decoupling"</a>- essentially breaking ties and creating a world with separate US or China-centric technologies and financial centers. In some ways, because the two powers have become so antagonistic, this is already happening. Domestically, Beijing has been investing in technological advancements with the hopes making the country a techno-superpower by 2025. Now it's calling its companies home.What's doubly important is that none of the above is primarily about making China rich. It's all about hoarding power for the CCP. Under President Xi Jiinping that has become Beijing's motivation above all else, and we should all expect it to act accordingly - even when it means hurting its own domestic companies.<h2>A chilling effect</h2>Last year Congress passed the <a href="https://www.kennedy.senate.gov/public/press-releases?ID=6CBCBD77-97BD-41C1-A2FA-6D6CDA4A1B81">Holding Foreign Companies Accountable Act</a>, which requires foreign companies listed on US stock exchanges to be audited by the Public Company Accounting Oversight Board's. If they refuse for three years in a row they can be delisted. Last month, the Senate passed a law that would shorten the time frame to <a href="https://www.kennedy.senate.gov/public/press-releases?ID=0B06BCEF-0558-4092-8837-6BE4D41B2925">two years</a> in a row.The problem with this is that so far, Chinese regulators will have absolutely none of it. This is a stare down. If Chinese companies listed here in the US do not comply they will be delisted. If they do comply Beijing could come down hard on these companies at home. In the meantime recriminations are flying. GOP Sen. Marco Rubio of Florida called the Didi IPO <a href="https://www.rubio.senate.gov/public/index.cfm/2021/6/rubio-sec-should-block-ipo-of-chinese-ride-hail-company-didi">"reckless and irresponsible"</a> weeks before Beijing clamped down on the company, arguing that Didi is a black box.Rubio and Democratic Sen. Senator Bob Casey of Pennsylvania introduced <a href="https://www.rubio.senate.gov/public/index.cfm/2021/5/rubio-casey-introduce-bill-to-ban-chinese-firms-that-ignore-u-s-laws-from-listing-on-u-s-exchanges">a bill</a> in May that would prohibit companies from going public on US exchanges if they do not comply with US regulators and submit to an audit from the Public Company Accounting Oversight Board.All of this pressure from Beijing and Washington will, without a doubt, have a chilling effect on Chinese companies listing here in the United States. So yes, this is another form of decoupling - and it's coming from both sides of the Pacific.

You Searched For "kanzhun" and got 6 results

China expands security review beyond Didi, sending shares of 2 US-listed Chinese tech companies plunging

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Didi soars 68% after report says China is set to end cybersecurity probe and allow new users on the ride-hailing app

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These were the 10 best performing IPOs of 2021 amid a record year for stock market debuts

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Didi's US shares plunge 25% after China cracks down on ride-hailing app, just days after $68 billion IPO

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Alibaba-backed LinkDoc drops plans for its US IPO after Beijing's crackdown on overseas listings, report says

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China's 'wolf warrior diplomacy' has come to Wall Street

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