WORLD
Chinese AI companies’ listing boom defies global trend amid surging demand
- IBJ Bureau
- Oct 18, 2026
Listings of Chinese artificial intelligence (AI) supply chain companies are expected to stand their ground,weathering rising valuation concerns and increasingly sharper scrutiny, a Citi banker working with Chinese companies has said.
Despite recent valuation pullbacks on data centre companies, largely originating from the US market, future AI supply chain listings would continue in Hong Kong,Simon Yuan, Citi’s head of China investment banking, has said.
Chinese companies’ plan tolist in Hong Kong is cushioned by a roughly even split between domestic Chinese and international demand, Mr Yuan, who also heads Citi’sfinancial institutions group in APAC, adds.
The market is supported by a pool of local liquidity, with rising southbound capital from the Chinese mainland emerging as a key buying force, Mr Yuan has said.
Still, “if thewhole AI cycle turns in the US — and we have seensome volatility in the last few weeks — you will see an impact everywhere, Hong Kong included,” he warns.
Many Chinese hardware players have proactively established manufacturing footprints outside mainland China, which helps them better service global clients and mitigate geopolitical friction.
Chinese hardware suppliers have benefited from the global AI infrastructure boom, gaining both growth in sales volume and higher unit prices, Mr Yuan adds.
Propelled by Chinese tech fundingdemand, 118 firms went public in Hong Kongin the first nine months of the year, raising HK$388 billion ($49.4 billion), up 106 per cent year on year.
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