China’s Shiniest Tech Stars May Ignite a Feeding Frenzy at Home

China’s push to get its fastest-growing companies to list shares at home could trigger a feeding frenzy from investors chasing the flashiest securities in a market dominated by old-economy stalwarts.

Beijing is trying to stem an exodus to American markets — and that’s good news for U.S. investors as it may bring a valuation boost. From Alibaba Group Holding Ltd. to Baidu Inc., the country’s brightest tech stars for years have chosen to debut in New York despite once-richer valuations at home, drawn to abundant capital and the prestige of a marquee international listing. But executives say Beijing is now ...