FIRST AIRED: June 2, 2016

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00:00:00
home to big money chinese tech stocks like ali baba and by do but maybe not for too much longer china one shanghai to be the next big financial center and it may get its wish with more and more chinese dot coms listed in new york packing up and heading home buddhist pete sweeney in shanghai has more so he's best known and most successful companies , in particular ali baba you know , posted huge i. q. those but they did in the states at the same time there's a ali baba's exposed to major legal risk in the united states for example on their concerns about sars platforms being used to sell counterfeit goods and there's also the fact that ali baba's overwhelming majority of its business operations , its assets are all in china china doesn't allow foreign ownership for example an internet company , the media companies arm in a lot of these of these areas that are considered sensitive on and yet these companies are listed overseas and how foreign shareholders beijing is on a mission to close a legal loophole that lets foreign investors by domestic chinese internet stocks another key reason many companies are taking their shares back home at one time listing in the u. s. made sense in china companies had to be profitable for a few years before they could go public ruling out most internet startups but now the government is using that restriction , on exodus of chinese tech giants nnal and profits for wall street alibaba as i feel was the largest ever making more than three hundred million for the banks the fact it