China’s bubble tea chain falters at its Hong Kong launch

Nonetheless, Chabaidao’s lackluster start underscores the difficulties officials confront in trying to restore trust in the city’s stock market.Aside from China’s sluggish economic growth, investors are worried about Hong Kong’s ability to recover from the pandemic and about the regulations pertaining to national security.

The amount of money collected in Hong Kong through initial public offerings (IPOs) fell to an all-time low last year.

Over 16% of the value of the city’s benchmark Hang Seng share index has been lost in the past year.

The Chinese securities regulator declared last week that it would back Hong Kong’s share offerings.

In an effort to strengthen Hong Kong’s standing as a global financial center, the watchdog also intends to loosen restrictions on stock trading connections between the city and the mainland.

China's bubble tea chain falters at its Hong Kong launch
China’s bubble tea chain falters at its Hong Kong launch

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