House leaders plan to consider a measure as early as Wednesday that would force Chinese firms such as Alibaba Group Holding Ltd. either to transition to getting an annual audit that is reviewed by U.S. regulators, or remove the shares from trading in the U.S. The House plans to vote under rules that limit debate and require a two-thirds majority for passage, according to an online notice posted Friday.
The legislation, if it becomes law, would give Chinese companies and their auditors three years to comply with inspection requirements before they could be kicked off the New York Stock Exchange or Nasdaq Stock Market. Chinese officials have criticized the bill, saying there are better ways to resolve differences between Washington and Beijing over audit inspections, and that delisting Chinese companies would harm U.S. capital markets.
This title is misleading! Companies listed on US markets have to comply with audit-oversight rules! The change is they now want the regulators have the right to inspect the results of auditings which I doubt they already have access to.
Boot them out Kung Flu!
The damage was done, it could take decades to recover. Why CCP’s top guns were allowed to hide behind the curtain so conveniently and GRACEFULLY for so long? 200+ companies!!!
They should leave the American market.
it's correct to stop your enemy earn money from you.
Needed to happen from the beginning.
on9boyon799 So before ccpchina does not need to comply? ChinaLiedPeopleDied
shiroihamusan Kick away Chinese companies. Fraud is very common in their companies.
Can't believe they allowed that at the first place.
China ' Don't trust nobody' - Words in quotes are from a BBC film.
Reform or perish.
arrest Joe
Indeed. Say no to China. Don’t trust China. Cut the funding. CCPChina CCPMustFall CCP_is_robber
What we need to do as a nation is abolish police
support this CCP companies should adhere to strict US rules to protect investors
Other countries should take similar measures to prevent improper goods to be imported from CCPChina which is well known to be cunning and unreliable. ipacglobal DominicRaab HeikoMaas marcomendicino ScottMorrisonMP sugawitter
This is what we call fair play.
This should have been done years ago, can't imagine how much these Chinese companies have cheated from investors
Why non-compliance was allowed in the first place?
This last for 2 month's until Biden is President?
Jane Fonda called the COVID-19 pandemic 'God's gift to the Left.' that tells the opportunism of the Democratic Party. Do they care about the 200K+ Americans, or do they consider these unfortunate victims to be props to use in the anti-Trump drama they subject us to day after day?
Finally....some balls to push back on China!
After 4 years of making money, Trump Repubs will now do something, maybe? Hypocrites!
They better do the right thing!!
Smh why they trying to take $nio away from me 🤦🏾♂️