According to BBC News, JD.com’s shares rose more than 5% during their first day of trading on the Hong Kong stock. The initiative comes as pressure increases in the US on Chinese companies amid escalating tensions between the two economies. Therefore, other China-based companies are also preparing similar listings in Hong Kong.
Besides, financial dealings of US-listed Chinese companies were also affected in the wake of the Luckin Coffee accounting scandal, which revealed that the company had uncovered USD 310 million in fake transactions, in April 2020.
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