Keywords: Chinese import competition Media slant U.S. House and Senate elections between 20, media slant is associated with increased voting shares for Democrats, who are traditionally champions for the poor and critical of globalization. The results hold with two identification strategies and three measures of media slant. local newspapers over 1998–2012, this paper shows that newspapers whose circulation counties face greater exposure to Chinese imports report more negative news about China, and are more likely to endorse Democrats. 114, issue C, 316-330ĭoes the recent surge in Chinese imports affect the media slant against China in the United States? Using a data set of 147 U.S. Journal of International Economics, 2018, vol. auditing rules.Exposure to Chinese imports and media slant: Evidence from 147 U.S. regulations being rolled out that could see Chinese companies delisted if they do not comply with U.S. regulators will potentially gain more access to audit documents of New York-listed Chinese companies.Īnalysts also note the tougher stance coincides with new U.S. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. The tougher stance by the Cybersecurity Administration of China has been driven in part by concerns that the United States could gain greater access to data owned by Chinese firms - similar to concerns that the previous Trump administration had voiced about Chinese firms operating in the United States. later this year, a review of the filings showed. listings, Refinitiv data shows, well up from the $1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the U.S. So far this year, a record $12.5 billion by Chinese firms has been raised from 34 U.S. capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal and all declined to comment to Reuters. LinkDoc did not immediately respond to a request for comment. The sources declined to be identified as the information has not yet been made public. The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. It had planned to sell 10.8 million shares between $17.50 and $19.50 each. and make it more difficult to raise funds overseas," he said.īacked by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the U.S. "The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the U.S. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities," said Bruce Pang, macro & strategy research head at China Renaissance Securities. LinkDoc's decision to suspend its $211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S.
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