China’s tech IPO craze is reaching a fever pitch. On July 12, the executives of a whopping eight Chinese companies that went public on the same day were forced to share their time of glory at the Hong Kong Stock Exchange due to a bell shortage. Compared with their foreign counterparts, this is even a bigger compromise for Chinese execs given their love for stage props. The US is seeing something similarthree Chinese tech firms including Pinduoduo went public in the US on July 26.

Ever since last year, an increasing number of Chinese tech companies can be seen joining the IPO craze. A PwC China report shows that 23 Chinese companies, including China Reading, raised a total of $4.65 billion in H2 2017, making the country the largest global tech community in terms of the number and total value of IPOs. The tendency continues this year with a roster of big-name companies such as Xiaomi, iQiyi and Pinduoduo, and unicorns from various verticals such as Liepin, Inke, Baby Tree and 51 Credit Card.

As a part of this trend, Chinese companies are turning to stock markets in Hong Kong and the US over the mainland market, marking the fifth overseas listing rush.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.