(Bloomberg) — Chinese startups hungry for foreign capital are increasingly turning to Hong Kong as hurdles to list in the U.S. multiply. But not every firm will make the cut, and those that do might have to settle for lower valuations. Hong Kong Exchanges and Clearing Ltd. makes far more stringent demands on companies planning a listing than its New York peers. Firms likely to struggle include unprofitable startups with little revenue such as those developing autonomous driving cars, or companies in industries including ride-hailing, which operate in a legal gray zone. Take for example Didi Global Inc., whose U.S….