New US legislation delists PRC corporations from US inventory exchanges


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President Donald Trump final week signed into legislation the Holding International Firms Accountable Act, which can delist Chinese language corporations from US inventory exchanges in the event that they fail to adjust to US auditing oversight guidelines inside three years. It should reportedly have an effect on nearly all Chinese language corporations listed on US exchanges, none of which now adjust to US auditing guidelines.

The legislation applies to all international corporations listed on US inventory exchanges however is being directed at Chinese language corporations, particularly Huawei Applied sciences, TikTok, and WeChat.

Whereas most different international corporations on US exchanges are already in compliance, Chinese language corporations usually are not so as a result of Chinese language legislation reportedly prohibits them from doing so, based on world newswires.

America had earlier this month handed an order that blocked imports of cotton textiles from China.

As per a congressional report by the US-China Financial and Safety Evaluation Fee, as of October 2, 217 Chinese language corporations with a mixed market capitalisation of USD 2.2 trillion have been listed on main US inventory exchanges.

Fibre2Fashion Information Desk (DS)


President Donald Trump final week signed into legislation the Holding International Firms Accountable Act, which can delist Chinese language corporations from US inventory exchanges in the event that they fail to adjust to US auditing oversight guidelines inside three years. It should reportedly have an effect on nearly all Chinese language corporations listed on US exchanges, none of which now adjust to US auditing guidelines.





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