22:03 - 10.08.2026

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August 10, Fineko/abc.az. China has actively turned to its $28 trillion equity and bond markets to bolster its artificial intelligence race against the US and improve financing access for homegrown tech firms.

Memory chipmaker CXMT Corp. made a spectacular stock market debut in Shanghai, surging over 500% on its first trading day to become mainland China’s most valuable listed company, overtaking long-time leader ICBC. The company raised approximately $9.8 billion through its IPO.

Capital Market Funding Dynamics:

• Two-Year Track Record: Chinese tech firms have raised around $217 billion via IPOs and bond sales over the past two years, compared to $1.4 trillion raised by US tech peers.

• Strategic Shift: Departing from its traditional reliance solely on state subsidies and tax breaks, Beijing is now accelerating IPO approvals and encouraging tech-focused bond issuances to narrow the gap with the US.