The Takeaway: Amid China’s evolving investment landscape amid regulatory and geopolitical shifts, global investors are adapting to new realities and navigating new paths to U.S. IPOs.

The China playbook of the past 20 years is gone, but "long China" is here to stay.

The Takeaway: Chinese government policies had soured U.S. investors on Chinese companies before President Biden banned investments in certain high-tech sectors. But there are opportunities for common ground in sectors like energy.

Under a new paradigm, investors have no choice but to navigate between global investment fundamentals and national policy ambiguities. Understanding China-U.S. relations is no longer just another tool for the investors’ toolbox, but the prerequisite for investing in the Asian country,

There may be plenty of venture cash floating around China, but returns remain scarce.

The Takeaway: Everything from strict regulations to low deal volume is blocking the exits for China’s investors, at least domestically. Without a route to U.S. markets, they’re basically stuck.

The government crackdown on the private tutoring industry was an object lesson in the need to pay attention to policymakers.

The Takeaway: Investors don’t pay adequate attention to how the Chinese government crafts policy, leaving them blindsided when the rules change.

“Is China still investable?” That’s the question that is being debated among global investors in both private and public markets. Not long after China launched an investigation into Didi’s IPO — followed by a policy overhaul of its after-school education industry — the U.S.-listed stocks of Chinese companies went into a tailspin that wiped out more than $1.5 trillion from their combined market capitalization within less than a year.

Fang Xinghai, a vice chairman of the China Securities Regulatory Commission (CSRC), hosted an online meeting attended by executives from more than a dozen foreign financial institutions on Jan. 25. The meeting revealed that Beijing and Washington were making progress on coordinating regulation of U.S.-listed Chinese companies, Reuters reported.

My recent article on whether Hong Kong is ready for Chinese tech stocks exiled from New York has triggered heated debate. This time I’d like to continue the topic about Hong Kong, which involves national security, the city’s stock market, and the variable interest entity (VIE) ownership structure widely used by Chinese tech companies listed in the U.S.

What a chaotic week we just had for U.S.-listed China tech stocks.

Last Friday, Didi’s announcement that it would delist from the New York Stock Exchange (NYSE) and seek a Hong Kong listing jolted the market, leading all U.S.-listed China tech stocks to plunge.

In late July, almost a month after the Chinese ride-hailing giant Didi was embroiled in a regulatory storm after its hasty New York listing, I spoke to a group of international investors in a webinar, and predicted the worst-case scenario would be a delisting.

China’s dot-com businesses are hot property in the private equity & venture capital (PEVC) world. Thanks to the success of high-profile unicorns like online payments business Ant Financial – valued at a whopping $150bn – PEVC groups are eager to find the next big thing. Internet businesses with novel business models are especially popular PEVC investment targets, and many have enjoyed high valuations before going public.