China is witnessing a wave of tech company listings. From AI chips and large language models to embodied intelligence and commercial space, Chinese technology firms are pouring into the capital markets.
In 2025, tech companies took centre stage in IPOs on both the A-share and Hong Kong stock markets. In 2026, the momentum is expected to build further, potentially making it a banner year for global tech financing. SpaceX plans to complete its listing before July 2026 and could stage the largest IPO in history. In China, tech firms have become the main force in the IPO pipeline. As of February 26, 2026, among the 341 companies waiting to go public on the A-share market, tech companies accounted for over 80% by number. On the Hong Kong market, nearly 70% of IPO applicants are tech firms.
Tian Lihui, a finance professor at Nankai University, told Caijing that this wave of tech IPOs is likely to represent a long-term trend lasting more than a decade. This reflects the vitality of China’s innovation ecosystem and marks an inevitable step in moving its tech industry toward the mid-to-high end of the global value chain.
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