A REPORT RELEASED BY THE US CONGRESS RECENTLY SHOWS THAT THE NUMBER OF CHINESE COMPANIES LISTED AND TRADED ON THE US SECURITIES MARKET HAS APPROACHED 250, AN INCREASE OF 14% COMPARED TO SEVEN MONTHS AGO. ANALYSTS BELIEVE THAT ALTHOUGH THE US GOVERNMENT IS FOCUSED ON RESTRICTING CHINESE COMPANIES FROM ENTERING THE US MARKET, COMPANIES AND US MARKET INVESTORS VIEW GOING PUBLIC AS A "WIN-WIN" SITUATION AND SUPPORT EXCHANGES AND INTEGRATION BETWEEN THE US AND CHINESE CAPITAL MARKETS THROUGH PRACTICAL ACTIONS.ACCORDING TO A REPORT RELEASED BY THE US CONGRESS' US CHINA ECONOMIC AND SECURITY REVIEW COMMITTEE ON THE 13TH, AS OF MAY 5TH, A TOTAL OF 248 CHINESE COMPANIES HAVE BEEN LISTED AND TRADED ON MAJOR US STOCK EXCHANGES, SURPASSING THE 217 LISTED ON OCTOBER 2ND, 2020.ACCORDING TO GLOBAL FINANCIAL DATA PROVIDER DELOITTE, IN THE YEAR ENDING IN APRIL, CHINESE COMPANIES RAISED A TOTAL OF $17.55 BILLION IN INITIAL PUBLIC OFFERINGS (IPOS) IN THE UNITED STATES, MORE THAN THREE TIMES THE PREVIOUS YEAR'S $4.1 BILLION AND THE HIGHEST RECORD SINCE APRIL 2015.IN THE EYES OF SOME MARKET OBSERVERS, THE SETBACKS IN US CHINA ECONOMIC AND TRADE RELATIONS HAVE NOT HINDERED EXCHANGES AND COOPERATION BETWEEN COMPANIES AND INVESTORS IN THE CAPITAL MARKETS OF THE TWO COUNTRIES. THE LISTING OF CHINESE ENTERPRISES IN THE US IS ONE OF THE MANIFESTATIONS OF MUTUAL BENEFIT AND WIN-WIN OUTCOMES.ON THE ONE HAND, THE CHINESE ECONOMY HAS BEEN THE FIRST TO RECOVER AND STEADILY GROW UNDER THE IMPACT OF THE GLOBAL PANDEMIC, AND INVESTING IN CHINESE ENTERPRISES HAS BECOME AN IMPORTANT WAY FOR INTERNATIONAL INVESTORS TO SHARE THE DIVIDENDS OF CHINA'S DEVELOPMENT.THE FINANCIAL TIMES REPORTED THAT IN THE FIRST QUARTER OF THIS YEAR, CHINA'S GROSS DOMESTIC PRODUCT (GDP) GREW BY 18.3% YEAR-ON-YEAR, DEMONSTRATING TO THE WORLD HOW STRICT EPIDEMIC PREVENTION AND CONTROL DECISIONS CAN HELP THE COUNTRY'S ECONOMY QUICKLY EMERGE FROM THE SHADOW OF THE EPIDEMIC.CRAIG COBURN, THE ASIA PACIFIC HEAD OF GLOBAL CAPITAL MARKETS AT BANK OF AMERICA, BELIEVES THAT CHINA'S ECONOMY WILL ACHIEVE STRONG GROWTH THIS YEAR, WHILE A GROUP OF VERY POWERFUL COMPANIES ARE EMERGING. INVESTORS IN THE US CAPITAL MARKET ARE FOCUSED ON GROWTH PROSPECTS AND PROFIT MARGINS, AND ARE "VERY EAGER TO FIND WAYS TO INVEST IN THESE COMPANIES".ACCORDING TO DATA COMPILED BY BLOOMBERG, CHINESE COMPANIES LISTED IN THE UNITED STATES ARE WELCOMED BY THE CAPITAL MARKET. IN THE FIRST FOUR MONTHS OF THIS YEAR, THE AVERAGE RETURN RATE ON THE SECOND DAY OF INVESTORS PARTICIPATING IN THE ISSUANCE OF SHARES BY CHINESE COMPANIES LISTED IN THE UNITED STATES WAS 11%.ON THE OTHER HAND, THE US CAPITAL MARKET ALSO PROVIDES MORE MARKET CHOICES FOR CHINESE COMPANIES. BLOOMBERG REPORTED THAT MANY COMPANIES ARE EXPANDING THEIR INVESTOR BASE BY LISTING IN MULTIPLE LOCATIONS IN MAINLAND CHINA, HONG KONG, AND NEW YORK, AND HEDGING OPERATIONAL RISKS THROUGH DIVERSIFIED FINANCING.BEN STEELE, DIRECTOR OF THE INTERNATIONAL ECONOMICS DEPARTMENT AT THE AMERICAN INSTITUTE OF DIPLOMACY, BELIEVES THAT THE US GOVERNMENT HAS INTRODUCED A SERIES OF STIMULUS POLICIES, AND THE FEDERAL RESERVE HAS MAINTAINED A LONG-TERM QUANTITATIVE EASING POLICY, CONTINUOUSLY INJECTING LIQUIDITY INTO THE CAPITAL MARKET AND PROVIDING CONVENIENT CONDITIONS FOR COMPANIES TO SEEK LOW-COST US DOLLAR FINANCING.AT THE SAME TIME, THE RECOVERY MOMENTUM OF THE US ECONOMY IS EVIDENT, AND THE RETURN RATE AND VALUATION LEVEL OF THE CAPITAL MARKET ARE SHOWING GREATER ATTRACTIVENESS. SINCE THE BEGINNING OF THIS YEAR, THE CUMULATIVE INCREASE OF THE S&P 500 STOCK INDEX HAS EXCEEDED 10%, AND THE AVERAGE P/E RATIO OF LISTED COMPANIES IS ABOUT 32 TIMES, WHILE THE AVERAGE VALUATION LEVEL OF CHINESE CONCEPT STOCKS IS EVEN HIGHER.