Chinese AI, chip firms are driving an onshore IPO rebound

China’s onshore technology IPOs are on track for their strongest year since 2023 as Beijing seeks to bolster listings of chip and artificial intelligence companies in a push for tech self-reliance amid the country’s rivalry with the U.S.

Technology companies have raised a total of $3.1 billion from ​stock market listings in China this year to June 18, more than five times the volume in the year-earlier period, according to LSEG data.