Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

China says firmly opposes U.S. bill that could remove Chinese firms from U.S. exchanges

Published 12/21/2020, 03:33 AM
Updated 12/21/2020, 04:25 AM
© Reuters. FILE PHOTO: Chinese and U.S. flags flutter near The Bund in Shanghai

BEIJING (Reuters) - China said on Monday it firmly opposed U.S. President Trump signing a bill that would kick Chinese companies off U.S. stock exchanges unless they adhere to U.S. auditing standards, saying it contains discriminatory provisions against Chinese companies.

"This is nothing but an unjustified political crackdown on Chinese enterprises listed in the United States," foreign ministry spokesman Wang Wenbin told a daily new briefing in Beijing.

"It will seriously hinder the normal listing of Chinese companies and distort the basic market economy rules that the U.S. has always touted," Wang said.

President Donald Trump on Friday signed legislation that would remove Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards, the White House said, giving the Republican one more tool to threaten Beijing with before leaving office next month.

Latest comments

changing rules after companies are listed just doesn't sound good, makes one wonder about the true reasons.
listing on us exchange should mean complying with us accounting and auditing standards f
This period belongs to China going forward. We are going to see China's stock exchanges will become the center of the world as companies begin ipo ing there going forward...
what a joke
they might do it through Hong kog
Haha
Its about time where all companies comply to SEC regulations and not giving special treatments to chinese companies just because of chinese internal secrecy act to avoid audits and transparency to investors
It's a great move in the right direction.
Yes, moving to China exchanges is the right move, because in China, the government will not act outside of international laws...
so ???
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.