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The pharmaceutical firm expects its workforce in Beijing to grow to 1,700 employees and is launching a JV with BioKangtai to help make vaccines; there is also investment into AI.

Analysts are betting that US president Donald Trump and his Chinese counterpart Xi Jinping will strike a deal, which would spur US players to buy Chinese stocks, just as overall sentiment for mainland China and Hong Kong improves.

Bubble tea maker Mixue has joined the market as it bounces back with a flurry of listing activity expected this year, with mainland Chinese investors increasing use of the Stock Connect; Middle East firms could also seek listings, although other foreign firms could be harder to attract.

China has hit the US with retaliatory tariffs on a series on products including soybeans, chicken, beef and pork, of up to 15%, after the US decided to impose further 10% tariffs on Chinese imports as of March 4.

The Shenzhen-headquartered lithium-ion battery maker has named seven banks involved in the listing process.

After US president Donald Trump issued executive orders to place 25% tariffs on Mexican and Canadian imports (now delayed) and 10% on Chinese goods (starting February 4); China has now retaliated with tariffs on US coal, gas, crude oil and more.

The CEO and chairman have stepped down as the company looks to solve "temporary liquidity difficulties", in part through the support of its largest shareholder, the state-owned Shenzhen Metro Group.

Slowing loans, M&A and ECM hit banks' fees last year. Technology, exports and bonds are bright spots, while Hong Kong is increasingly being seen as a place to raise foreign capital. PBOC's governor Pan Gongsheng wants a proactive policy approach.

Yin is also head of global corporate coverage for China, and is based in Beijing.