德安华Kroll：2025年秋季美国及香港上市中概企业交易洞悉报告（英文版）

Following GDP growth of 5.0% in 2024, China’s economy further expanded by 5.3% in the first half of 2025. The economy also recorded increases in fixed asset investment (2.8%), value-added industrial output (6.4%) and foreign trade (2.9%) for the first six months of 2025.1 The year 2024 and the first eight months of 2025 saw a continued modest recovery in the pace of U.S. IPO activity for Chinese companies after the significant drop-off in listings in 2022.2 However, total funds raised remains