By Melissa O'Rourke, Daily Caller News Foundation | June 23, 2025
Chinese companies are increasingly withdrawing their stocks from American exchanges as Washington intensifies regulatory scrutiny and political pressure on firms with ties to the Chinese Communist Party (CCP), The Wall Street Journal reported Monday.
Since 2019, over 80 Chinese firms have delisted from the New York Stock Exchange (NYSE) and Nasdaq, with Chinese stocks now representing less than 2% of the total market capitalization on these stock exchanges, according to the WSJ. The decline coincides with broader efforts by the Trump administration to adopt a tougher stance towards China and crack down on its subversive economic tactics.
While the number of Chinese initial public offerings in the U.S. increased in 2024, most were small firms raising an average of under $7 million, according to the WSJ. The NYSE hasn’t hosted a new Chinese listing since May 2024, when electric carmaker Zeekr went public.
Government-owned companies like China Mobile, China Eastern Airlines and PetroChina went public on American stock exchanges in the 1990s and 2000s. In recent years, however, these companies have been forced to delist from U.S. exchanges, and today, no company explicitly owned by the Chinese government remains listed, according to the WSJ.
Other Chinese firms have opted to delist themselves from U.S. exchanges instead of allowing U.S. regulators to scrutinize their accounting and business operations, the WSJ noted.
The trend is unlikely to change, especially as the Republican-controlled Congress and the Trump administration have become more aggressive in efforts to combat Chinese economic warfare.
The strategy was outlined in February by President Donald Trump as part of his America First Investment Policy, which asserted that China “exploits United States investors to finance and advance the development and modernization of its military.”
Furthermore, in May, Rep. John Moolenaar, chairman of the House Select Committee on China, and Sen. Rick Scott of the Senate Committee on Aging, sent a letter urging the Securities and Exchange Commission Chairman Paul Atkins to delist companies like Alibaba and Hesai with CCP links.
“In the People’s Republic of China, no company is truly private. The CCP maintains sweeping authority over all firms — whether state-owned or nominally private — through legal mandates and political control mechanisms,” the letter read. “These entities benefit from American investor capital while advancing the strategic objectives of the CCP, supporting military modernization and gross human rights violations.”
On trade, the Trump administration has imposed tariffs to address what it sees as unfair trade practices by the CCP that have contributed to a significant trade deficit with the country. In a recent meeting in London, U.S. representatives maintained a 55% tariff on Chinese imports, while China agreed to a 10% tariff on U.S. goods and pledged to relax its export controls on rare earth elements.
Melissa O'Rourke is a contributor at the Daily Caller News Foundation.
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