China’s Instagram Gets Ready to Go Public

揭秘小红书:如何收割年轻人的钱包

Big Take

2026-06-24

23 分钟
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单集简介 ...

After more than a decade as a private company, Chinese social media app Xiaohongshu, known internationally as RedNote, is testing China’s mood for all things tech with its plan to list in Hong Kong. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Intelligence’s Robert Lea about why the time may be right for an IPO and what Xiaohongshu's debut says about the future of China’s tech industry. Read more: Xiaohongshu Is Said to Ready Hong Kong IPO Filing This Month See omnystudio.com/listener for privacy information.
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  • Bloomberg Audio Studios: Podcasts, Radio, News.

  • Early last year, I downloaded Xiaohongshu,

  • the Chinese social media app known internationally as Rednote.

  • Back then, TikTok was about to be banned in the US

  • and fears that it would shut down for good sent millions of mostly Americans looking for alternatives.

  • Many of them landed on Xiaohongshu.

  • Hello everybody, we're from TikTok from America.

  • Posting my first video to Rednote as an American TikTok refugee. Hello everybody.

  • We covered the Xiaohongshu craze on The Big Take Asia at the time.

  • But not long after we reported the story,

  • President Trump announced he would delay the ban on TikTok.

  • He ended up delaying it several times

  • and most of the Americans who'd migrated from TikTok to Xiaohongshu went right back.

  • And in January of this year, ByteDance, TikTok's parent company in China,

  • agreed to spin off its US operations, securing TikTok's future in the States.

  • TikTok is saved! Well, it's official,

  • President Trump just announced a US buyer for TikTok.

  • But the Xiaohongshu app stayed on my phone

  • and pretty quickly it became a part of my routine.

  • When I'm not hosting this show, I cover tourism for Bloomberg