(Bloomberg) -- X Financial rose 114 percent in its first trading day before paring gains to 35 percent, reinforcing signs that investors are embracing Chinese tech companies listing on U.S. exchanges.

The peer-to-peer lending firm is the latest Chinese company to list in the U.S. amid a flood of tech IPOs from the country this year. Thirteen Chinese tech firms have debuted this year and eight are trading above their offering prices.

If X Financial can hold on to its 38 percent gains, it would be the third-best debut among all China tech IPOs this year, behind Qutoutiao (+128 percent), Senmiao (+41 percent) and Pinduoduo (+41 percent).

Trading in the Shenzhen-based fintech company was halted twice during the Wednesday morning session due to sharp price movements.

To contact the reporter on this story: Shelly Hagan in New York at shagan9@bloomberg.net

To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Christiana Sciaudone, Drew Singer

©2018 Bloomberg L.P.