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US Revocation Of Hong Kong Special Status To Rain On Biotech IPO Parade?

Or Might Stability Bring Investor Confidence?

 
• By Brian Yang

Amid a sweeping National Security Law passage, many biotech and healthcare firms from China opt for a Hong Kong initial public offering in the meanwhile appetite for a US listing wanes.

Hong Kong
US REVOKES HONG KONG SPECIAL STATUS AS CHINA PASSES SWEEPING NATIONAL SECURITY LAW • Source: Shutterstock

The US government has rolled back its Special Status treatment of Hong Kong, a move widely viewed as a response to China’s tightening grip over the global financial center that has potential implications for the biopharmaceutical industry, particularly ventures seeking to list in Hong Kong.

On 29 June, China’s National People’s Congress passed new sweeping national security legislation covering Hong Kong, which allows the mainland government to enforce controls over territory, essentially eroding the “One Country, Two

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