China Signals End to $2 Trillion U.S. Listings Juggernaut (1)

For two decades Chinese tech firms have flocked to the U.S. stock market, drawn by a friendly regulatory environment and a vast pool of capital eager to invest in one of the world’s fastest-growing economies.

Now, the juggernaut behind hundreds of companies worth $2 trillion appears stopped in its tracks.

Beijing’s July 10 announcement that almost all businesses trying to go public in another country will require approval from a newly empowered cybersecurity regulator amounts to a death knell for Chinese initial public offerings in the U.S., according to long-time industry watchers.

“It’s unlikely there will be any U.S.-listed Chinese ...