A recent survey by Tsinghua University found China to be the most dominant preference for listings by its domestic businesspeople.
The sentiment was agreed by 66 percent of the 1,200 business leaders surveyed across China in joint efforts with Marcum Bernstein and Pinchuk (MarcumBP), an auditor specializing in U.S.-listed Chinese companies. This compared to just 18.7 percent that viewed the U.S. as an attractive IPO destination, behind even the likes of Hong Kong despite ongoing unrest.
«Most executives looking forward are veering away from the United States,» said Drew Bernstein, co-managing partner of MarcumBP, in an «SCMP» report though he stressed that demand for fast-growing Chinese tech unicorns alongside U.S. funding would persist.
«We’re not political people. We’re just businesspeople. The truth is that there’s not a lot of space in business for politics.»
M&A Roadblocks
According to the survey, 71 percent of Chinese CEOs were «very willing to consider mergers and acquisitions» for growth with a focus on advanced technology. Meanwhile, the U.S.-China Economic and Security Review Commission (USCC) has raised multiple concerns about risks involving Chinese capital, tech-related acquisitions and inadequate disclosure.
«I think there are going to be steps taken to try to improve and ensure the reliability of financial statements of these companies,» Bernstein said, adding that the move was not necessarily politically driven.
