Regulation Weaken New York's Position

New York lost its position as the second most popular place (after London) for initial public offerings (IPOs) in the world to Hong Kong. There are two reasons for this. First, the booming economy of mainland China, whose own stock markets in Shanghai and Shenzen is still not considered as reliable and well-developed as Hong Kong's. Mainland Chinese companies constitute half of the Hong Kong stock market's $1.6 trillion market capitalization and are 73% of IPOs. The other reason is the costly regulations that companies listen in New York have to put up with.