China's Xiaomi, Tencent-backed online brokerages tap lucrative US IPO market

China's Xiaomi, Tencent-backed online brokerages tap lucrative US IPO market

An investor stands at a trading terminal in front of an electronic stock board at a securities brokerage in Shanghai, China, on Friday, June 9, 2017. Photographer: Qilai Shen/Bloomberg

China’s big technology companies, facing a crackdown at home over their dominance in online commerce and push into finance, are finding success in underwriting initial public offerings abroad.