Brendan Smialowsk | AFP | Getty ImagesThe U.S. Senate passed legislation on Wednesday that could ban many Chinese companies from listing shares on U.S. exchanges or raising money from American investors without adhering to Washington's regulatory and audit standards.
Though the law could be applied to any foreign company that seeks access to U.S. capital, lawmakers say the move to strengthen disclosure requirements is aimed principally at Beijing."The Chinese Communist Party cheats, and the Holding Foreign Companies Accountable Act would stop them from cheating on U.S. stock exchanges," Kennedy, a member of the Senate Banking Committee, wrote on Twitter Tuesday afternoon.
Furthermore, if the board is unable to inspect the company's accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange.
I see more this as a counter attack... and the first of many I'm afraid...
2022boycott
I just want to make money and I don’t care what country it’s in. 🤡🤡🤡
Hell YES!!! Decouple, now!
Oh ok. So now humans are serious about bullsh1t financials? Does not compute 🤪
Interesting
meanwhile, Indonesia present them red carpet .. oh poor my country 😭😭 JokowiKingOfPrank
Surprising to learn that over 600 Chinese companies are listed in the US stock markets and none of these companies are not expected to follow same accounting and audit standards as rest of the US companies. Well done 👏👏👏
Not enough.
Yes! Just think about Luckin Coffee.
jimcramer this really didn’t get the traction today I thought it would your thoughts? Seems to be a bill that would certainly put a China deal already under pressure under more pressure. may become a political issue with anti China sentiment growing I’m seeing traders talking
About time lawmakers stopped the corrupt Chinese from constantly getting away with fraud onto the American people, how much more crap are we going to take from them!
Everything is fucking made in china 🤦🏿♂️
And the tradewar is just getting started
Should I sell Alibaba ? 🤷♂️
I thought that was always a requirement
ChinaLiedPeopleDied
This should of been done years ago
Shouldn't that have always been the case. We only let our friends RIP off investors.
Like that time US credit agencies gave AAA rating to US banks in 2007? US regulations works real peachy then.
They tried before and failed
Greet news to the Chinese companies and investors.
Good going America
Meh, london will be screaming for anything in January and will gladly accommodate them. Investors will also buy them.
一颗老鼠屎。
Great!!!! Finally good news
If American companies are forced into selling a portion of the company to the Chinese government the least they can do is following our accounting rules.
Needs to happen. Chinese have 0 business ethics.
'We can’t let foreign threats to Americans’ retirement funds take root in our exchanges' So, the free market is dead, long live the retirement funds exchange?
About time, elected officials actually doing something productive
Get out of any Chinese biz now
Cash is king because you will never know what’s going to happen
Shocking companies listed on US exchange didn't adhere to US standards thus far. Previous administrations really did let China get away with bloody murder.
I am so old- I remember when a US / China trade war would have moved the market.
Everyone should go to your city China Town kick them out the country
China will retaliate tonight, NASDAQ will get destroyed tomorrow.
Good!
Time to do it !! Remember luckin coffee debacle and fraud they did . Good job !