Bourses in Europe gain as US audit woes shift focus of Chinese firms

For Chinese companies seeking overseas financing, Europe has emerged as the preferred choice ahead of the United States this year and, for the first time, generated more funds, global financial data provider Dealogic said on Thursday.

Five Chinese companies have raised more than $2.1 billion from the Zurich and London stock exchanges by issuing global depository receipts－GDRs－so far this year.

In the same period, other Chinese companies raised less than $400 million from Wall Street, according to Dealogic.