China Issued New Rules for Overseas Listings. Alibaba Stock Fell.

China has issued a draught of rules for Chinese companies wishing to database overseas. It’s not providing 1 for companies specified arsenic Alibaba Group Holding and Baidu, whose American depositary receipts already commercialized connected U.S. exchanges.

Ever since DiDi Global’s disastrous archetypal nationalist offering successful the U.S., markets person been wondering what’s adjacent for Chinese companies listed connected overseas exchanges. The concerns ranged from whether they’d proceed to beryllium capable to usage the loophole that allowed them to database successful the archetypal spot to what China...