Statistics on Filing Information for Overseas Issuance of Securities and Listing by Domestic Enterprises (as of November 28)

As of November 21, 2025, the filing information for overseas issuance of securities and listing by domestic enterprises released by the China Securities Regulatory Commission (CSRC) shows that a total of 358 enterprises are currently in the listing filing process, among which 55 have chosen to list on the Nasdaq Stock Market in the United States.

Filing Details of 55 Enterprises Planning to List on Nasdaq

In the first half of 2025, 40 enterprises have successfully listed on U.S. main boards, with Nasdaq remaining the preferred choice for enterprises. The continuous optimization of the new filing regulations has injected strong momentum into domestic enterprises' overseas listings in the United States.

Since the implementation of the Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises (Trial) in 2023, the overseas listing filing system has been continuously refined and improved. The 2025 initiatives such as the "incremental/stock" classification, ESG pre-disclosure requirements, and high-frequency inquiry templates represent the systematic implementation of "institutional opening-up" at the operational level.

On May 7 this year, Wu Qing, Chairman of the CSRC, clearly stated at a press conference held by the State Council Information Office that China will unswervingly promote high-level institutional opening-up of the capital market and actively support enterprises in achieving high-quality development with the help of international capital. This indicates that China's capital market opening-up has entered a new phase, with the policy orientation shifting from "exploration" to "balancing regulation and efficiency," and efforts being made to create a more transparent and predictable regulatory environment.

Since the implementation of the filing system, it has achieved a comprehensive upgrade from framework construction to refined operation. For enterprises planning an IPO, only by accurately understanding policy orientations and making advance preparations for compliance and organizational structure can they seize the initiative in the overseas listing process and enhance their access efficiency and success rate in the international capital market.