Chinese stocks have gained nearly $4.9 trillion in value this year, aided by the country’s rapid recovery from the new coronavirus, a string of initial public offerings, and a blistering rally in shares of consumer and technology companies. The surge comes despite heightened friction with the U.S.over technology, trade and finance—and attempts by the U.S. government to discourage American pension funds and other institutions from holding Chinese stocks. Legislation signed this month by President Trump could force Chinese companies to delist from exchanges in New York if their audit papers aren’t inspected by U.S regulators for three consecutive years. Chinese companies that went public this year together accounted for nearly $1.3 trillion in market value, the S&P data shows. Altogether China’s onshore stocks constitute about 5% of its main emerging markets gauge.

Source: Mint December 26, 2020 09:13 UTC