SHANGHAI - Chinese private firms are shunning the United States in their overseas expansion, and generally prefer a home listing to a U.S. initial public offering , a private survey showed on Tuesday, highlighting the trade war’s impact on executive decision-making.
Last week, the U.S.-China Economic and Security Review Commission proposed measures restricting U.S. capital flows toward Chinese companies. “Most executives looking forward are veering away from the United States,” said Drew Bernstein, co-managing partner of MarcumBP. According to the survey, fielded at the start of the third quarter, 71% of the Chinese CEOs said they’re “very willing to consider mergers and acquisitions” as part of their growth strategy, with acquiring advanced technology being the most important factor in such activities.
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