The Chinese state-owned media said that even news of measures like delisting Chinese companies from American stock exchanges "is expected to have significant repercussions for the Chinese and US economies, as well as their companies, in the future."a source familiar with the matter told CNBC last Friday.
But U.S. Treasury assistant secretary for public affairs, Monica Crowley, said in a statement over the weekend that "the administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time. We welcome investment in the United States." Still, the Chinese propaganda arm criticized the move by the U.S. politicians, saying that they "seem to believe that a decoupling from China will be simple" and "won't significantly impact its economy."Commerce Ministry Vice Minister Wang Shouwen said Sunday.round of negotiations," Wang said in Mandarin, according to a CNBC translation.
The U.S. and China have been locked in a protracted trade war for more than a year, with each country slapping tariffs on goods worth billions of dollars. Chinese tech giants listed in the U.S. immediately reacted. Alibaba shares slipped more than 5% on the reports, while Baidu and JD.com also fell 3.6% and 6% respectively on Friday after the news came out.
Finally holding China accountable is a good thing!
If the hedge funds are smart, they'll quietly start pulling...
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