Daily Management Review

Goldman Sachs chief notes delays in Chinese companies listing


Goldman Sachs CEO David Solomon said China's recent moves to increase oversight of its technology industry will delay the US listing of many Chinese companies.

Because of moves by the Chinese government to increase its oversight of technology companies, many Chinese companies will delay their listings on US exchanges, Goldman Sachs CEO David Solomon told CNBC. Goldman Sachs CEO David Solomon said in an interview with CNBC. 

He added that "many companies" were planning to enter the US market. "Because of the actions of the Chinese government, I think some of these companies will not come to market at this time," the Goldman Sachs CEO said. 

Goldman, along with JPMorgan Chase and Morgan Stanley, were the lead underwriters of the US listing of taxi service Didi.  Shares in Didi Global fell after China announced that new users could not download the app due to an ongoing investigation into data security.

 Chinese regulators recommended that the company delay its US listing, but the technology company did not heed the recommendation, The Wall Street Journal reported.

source: wsj.com, cnbc.com