On March 2, Price Waterhouse Coopers released data on initial public offerings (IPOs) in China’s media and telecommunications in the second half of 2021. It showed that the proportion of Hong Kong and overseas IPOs in total listings dropped steeply from 82% in the first half to 25% in the second half. In the first six months of 2021, 14 mainland Media and Telecommunications (TMT) companies were listed in Hong Kong, raising about $17.5 billion, and 20 listed in the U.S., bringing in $10.3 billion. In comparison, in the second half of 2021, only eight mainland TMT companies were listed...