Chinese AI and Chip Firms Propel Onshore IPO Rebound

By EC Assets · Published 26 June 2026

Chinese artificial intelligence and chip companies are contributing to a resurgence in onshore initial public offerings (IPOs). The technology sector in China, particularly AI and chip firms, is driving this trend. Onshore technology IPOs in China are currently on track. Goldman Sachs Group Inc. favors Chinese mainland-listed shares over those in Hong Kong. This preference is due to stronger earnings performance by onshore indexes, which are led by AI firms. Unitree, a robotics company, may pursue one of China's largest onshore tech listings in years. This potential IPO by Unitree would test demand for physical AI applications. Red-chip arrangements have historically allowed Chinese companies to access international capital markets and attract foreign capital. However, Chinese regulators have recently cracked down on illegal cross-border stock trading. This move aims to prevent capital outflows. Hong Kong's capital market showed strong growth across multiple asset classes over the past year. IPO fundraising in Hong Kong surged by 272% to HK$379 billion during this period. Despite this, Chinese investors have been divesting Hong Kong stocks at a record pace. Hong Kong equity ETFs listed in China saw a record $3.7 billion in outflows last week. The People's Bank of China recently net injected 122.5 billion yuan via seven-day reverse repos. A major policy document has been released, outlining plans for advancing the large-scale, stable development of onshore wind power and photovoltaic power generation. It also promotes offshore wind power development. This article is intended for informational purposes only. It does not constitute investment advice.