Capital Markets Review 2022 : Doors Open to Chinese Issuers in Hong Kong and the U.S.

December 30, 2022 | BY

Susan Mok

After a busy year on the capital markets, Haiping Li and Paloma Wang of Skadden Arps Slate Meagher & Flom LLP take a look at 2022's developments and what the next 12 months may hold.

Summary

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  • There were challenging capital markets conditions worldwide in 2022, with Greater China seeing more than its fair share
  • Hong Kong's regulators introduced a number of initiatives aimed at attracting more investors, including more opportunities for those from mainland China
  • The U.S. markets also opened, as access to audit papers was relaxed
  • In mainland China, a number of regulatory developments also point to easier and swifter listings

2022 saw challenging capital market conditions globally, although issuers in the Greater China region faced a disproportionate share of those challenges. A combination of regulatory restrictions on the technology sector and COVID restrictions in China, together with broader geopolitical tensions, have combined with the macro conditions of economic slowdown and rising inflation and interest rates to put significant pressure on capital markets transactions. Notwithstanding these challenges, however, there are a number of bright spots which present opportunities for Chinese issuers in both Hong Kong and the U.S. There are a number of key developments which can expected to provide momentum for China's capital markets deals going into 2023.

Hong Kong

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