A potential trade war between the world's top two economies may affect the initial public offering market in the short term, a managing partner of a top accounting firm told CNBC on Wednesday.
"I think it all depends on the sectors and how long it will affect [them]," Ringo Choi, the Asia Pacific IPO Leader of Ernst & Young said.
"For the short term, I think it will affect the market and that will consequently affect the IPO," Choi said, adding that Chinese listings that are export-oriented, particularly to the U.S., will surely be affected.
Chinese companies that are considering options to enter the U.S. market will also face difficulties if the relationship between the two governments shifts from a "partnership basis" to one of a potential trade war.
In the long run, however, there will be more dialogue between the two countries according to Choi, who told CNBC he believes both governments are currently gathering more "chips" to bargain with each other in future.
"I believe that in the long run, both countries will sit down and talk," he said, adding that the IPO market would therefore not be affected in the long run as a result.