WASHINGTON—The House unanimously approved legislation on Wednesday that
, such as Alibaba Group Holding Ltd. , over concerns that their audits aren’t sufficiently regulated.in May and could quickly become law with President Trump’s signature. The fight over China’s resistance to allowing overseas inspections of its companies’ audits has lasted for years but reached a fever pitch during the Trump administration.
Under the measure, Chinese companies and their auditors would have three years to comply with the inspections before a trading prohibition could take effect. If a breakthrough looked unlikely, the companies would probably respond ahead of a ban by either going private or moving their listing to a non-U.S. exchange.that could allow Chinese auditors to comply with the inspection requirement without violating their home country’s laws, which limit the sharing of information.
Chinese firms have raised money from U.S. shareholders for years, but their auditors violate a fundamental investor protection: China typically won’t allow American regulators to check their work. Chinese companies including Luckin Coffee Inc. have
shiroihamusan More than that, you should NOT invest your retirement fund in these China companies. These companies are full of fraud. You will loss your retirement fund.
No one can stop chinese expansion. Never ever.
A country that accepts a large number of Chinese will surely be destroyed by the Chinese. If you rely on China, you will be controlled by China. If you help China, you will be bullied by China's power. If you treat China well, you will be endangered by China's infiltration.
Just look at all of the Chinese ADRs in the past 20 years. How many got delisted because they turned put to be scams? How many success stories vs pump and dump stories? Most Chinese ADRs were major flops, costing investors $billions. $wei $ryb $lkncy $nio $vips
This is not about being anti-Chinese, it is about protecting Americans from financial scams. Unfortunately Chinese ADRs have already conned $billions from American investors. Too many ADRs like $WEI $RYB Suntech Orient Paper $LKNCY turned out to be total scams with fake ERs.
The Senate CAN pass THIS but not HELP for the PEOPLE?!?
Good news, Chinese companies have used all those fake data to cheat for too long