The Research Of The Destinations Choice For Chinese Companies To Go Overseas Listing

This paper begins with the process of the overseas listings of Chinese companies since 1990s. After that, it pointed out the advantages and disadvantages of Chinese internal companies' overseas listings and the necessity and feasibility of overseas listings. Afterwards, the author describes the stock exchanges' distribution, temporal distribution and industrial distribution of Chinese companies that IPO abroad in general. Then, the author chooses three main destinations—Hong Kong, Singapore and the United States, which has the largest number of overseas listing companies from China, in order to present the current situation of Chinese overseas listing companies and to analyze the pros and cons of IPO in these three destinations respectively. In addition, from a microscopic perspective, the author provides cases to exemplify the content described above. The cases are three Chinese companies listed in the aforesaid destinations respectively and these companies all belong to one industry and went overseas listing in the same year. After the analysis of the cases, the factors that should be taken into consideration when Chinese companies go overseas listings would be clearer and more specific. Finally, the author makes suggestions for Chinese companies in overseas listings for the sake of finding ideal destinations for Chinese companies.