Ranked: Top 30 Chinese Companies Listed In The U.S.
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Key Takeaways
- China’s most valuable company listed on U.S. exchanges is Alibaba, also one of the largest IPOs of the decade.
- NetEase which listed in 2000 is the oldest U.S. listed Chinese company in the top 30 by market capitalization.
Amidst Trump’s second trade war, Chinese companies are once again in the spotlight for Americans and American politics.
Using data from the U.S.-China Economic and Security Review Commission, we list the top 30 Chinese firms listed on U.S. exchanges by their market capitalization. All figures are in U.S. dollars, as of April 28th, 2025.
Per the source, a company is considered Chinese if listed as such by a U.S. exchange, headquartered in China, or has most of its operations there.
Most Valuable Chinese Companies in American Stock Markets
China’s most valuable company listed in the U.S. is Alibaba BABA, one of the largest IPOs of the decade.
Since its IPO days, the company’s market cap has grown 13x to $285 billion today.
| Rank | Name | Market Capitalization |
Sector |
|---|---|---|---|
| 1 | Alibaba Group | $285.0B | Technology |
| 2 | Pinduoduo | $143.2B | Business Services |
| 3 | NetEase | $66.6B | Technology |
| 4 | JD.com | $51.0B | Consumer Services |
| 5 | Trip.com International | $40.4B | Business Services |
| 6 | Baidu | $31.1B | Technology |
| 7 | BeiGene | $28.5B | Health Care |
| 8 | Li Auto | $26.0B | Consumer Durables |
| 9 | KE Holdings | $25.3B | Real Estate |
| 10 | Tencent Music | $20.8B | Technology |
| 11 | Xpeng | $19.0B | Technology |
| 12 | Yum China | $17.5B | Consumer Services |
| 13 | ZTO Express | $15.5B | Transportation |
| 14 | Full Truck Alliance | $12.0B | Transportation |
| 15 | H World Group | $11.3B | Consumer Services |
| 16 | NIO | $9.0B | Consumer Durables |
| 17 | New Oriental | $7.7B | Consumer Services |
| 18 | Bilibili | $7.2B | Technology |
| 19 | Vipshop | $7.0B | Consumer Services |
| 20 | Kanzhun | $6.8B | Technology |
| 21 | Qifu Technology | $5.7B | Finance |
| 22 | ZEEKR Intelligent | $5.6B | Consumer Discretionary |
| 23 | TAL Education Group | $5.5B | Consumer Services |
| 24 | Miniso | $5.5B | Consumer Services |
| 25 | GDS Holdings | $4.4B | Technology |
| 26 | Zai Lab | $3.7B | Health Care |
| 27 | Pony AI | $3.6B | Technology |
| 28 | Kingsoft Cloud | $3.3B | Technology |
| 29 | Atour Lifestyle | $3.3B | Consumer Discretionary |
| 30 | WeRide | $1.8B | Technology |
Ranked second, Pinduoduo, an online retailer that started in the agriculture space is worth about half of Alibaba (though it did list four years later).
At third place, NetEase NTES, which listed in 2000 is the oldest U.S.-listed Chinese company in the top 30. It’s China’s largest email services provider and has since ventured into gaming, music streaming, and online education.
Missing from this list is Tencent TCEHY, a multimedia conglomerate with ventures in gaming, music, social media, instant messaging, and e-commerce.
The holding company is listed in Hong Kong, while its subsidiary, Tencent Music ranks 10th on this list.
Chinese IPOs in the U.S. Are Making a Comeback
After two years of muted activity—due to rising geopolitical tensions, and security concerns—Chinese IPOs in the U.S. are making a comeback.
Since January 2024, 48 new listings have occurred, led by mostly small cap companies with an average IPO of $50 million.
For context, the Chinese government clamped down on offshore listings in 2021, introducing a new data review process that could block an overseas IPO if the government felt it threatened Chinese national security.
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