A ‘Tech War’ Transitioned into ‘Capital Hegemony’
Chinese tech startups and semiconductor and AI giants are outright rejecting the United States New York stock markets (NYSE, NASDAQ), which have long served as the epicenters of global capital, and are pivoting toward their own domestic markets, unleashing a fierce ‘mainland listing rush (Domestic I
Chinese tech startups and semiconductor giants are defying U.S. dominance of global capital markets, shifting focus to domestic markets. This shift, dubbed the "mainland listing rush," involves key AI and semiconductor players like ChangXin Memory Technologies and DeepSeek, moving capital and resources to Shanghai STAR Market, ChiNext board, and Hong Kong exchanges.
The U.S. government's regulations and restrictions on advanced sectors have blocked or uncertain U.S. listings, prompting Beijing to prioritize technological independence. The Chinese government is bolstering this push with policy funds and reforms, aiming to assess AI and data-intensive enterprises within the domestic market. This capital influx is reshaping global semiconductor and AI ecosystems, as Chinese tech firms develop next-gen AI semiconductors, foundries, and LLM infrastructures.
The move threatens Western dominance in AI services and memory markets, prompting a potential escalation in Western countermeasures, including broader financial sanctions and tighter export control standards.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
