For more than a decade, Chinese companies raised billions by listing their shares on American stock exchanges while avoiding the accounting-quality checks that other public firms endure.
But economic tension between the two global superpowers, amplified by political outrage in the U.S. over China’s role in the spread of the new coronavirus, has pushed a financial-markets issue into the political mainstream. Legislation passed by the Senate—and now introduced in the House—would kick Chinese companies off U.S. stock exchanges...
NMSLHAPPYNOW Chinese firms come to make money in the US, of course they should be audited by the US. Audit on their own? Who knows if everything’s true?
Let the market worry. The Senate is just trying to protect American and intl investors. Such audits should have been done at listing. It is all a big Wall Street fraud fleecing investors. SenateGOP SenateDems
The truth, let’s see what these Chinese firms are hiding
Immediate action is needed to fill the loophole
Chinese accounting lies will be revealed for everyone to see and the Chinese to deny.
MALDITOS CHINOS DESGRACIADOS LA PAGARAN BIEN CARO POR CULPA DE ELLOS QUEBRARON MILLONES DE NEGOCIOS EN EL MUNDO Y HAN MUERTO MUCHA GENTE NADA DE CHINA NI MERCANCIAS NI APLICACIONES WEB QUE VENGAN DE CHINA ABSOLUTAMENTE NADA ELLOS DEBEN SENTIR QUE LES VAMOS A RESPONDER CON FUERZA
SOX is bullshit.
Frets over? Wall street and investors should instead welcome this tightening with open arms. Chinese firms know how to cook the book really well, the Chinese style cooking. 😀
chanfong985 Isn't this a good thing? Chinese companies finally need to autit like a regular American company...
How incompetent were Trump’s predescessors that they allowed this to happen?
Based on what legal principle are they allowed to target a specific country.
中囻公司是最會鑽空子的 小心它們把美國公司帶壞
提议国际社会，将中国共产党，定位为法西斯组织！ 共产党，对内实施专制统治，有独裁者，有党卫军，有青年团，建立警察国家，有一套控制人思想的异端邪说，经常搞大规模迫害运动，完全符合法西斯的特征！
The market worry about the truth the audit will uncover?
Check out the China Hustle on netflix if you haven't already. Even if the accounts were signed off by one of the Big 4 firms, it doesn't mean they're accurate. Auditors have a bulletproof defense, we got duped. Doing audits in CCPChina could be dangerous.
It's either they follow the rules or de-list the companies..
I just leave it right here 👇
Good
Will that mean that an independent body can and must audit all trump’s operations?.
Chinese firms need to comply with audit rules like US firms and this will protect all stakeholders (think about Luckin fraud).
Audits need to be done on Congress!
Enforce CCP companies to follow the same accounting practices as every other company! If they claim they can't due to state secretes, they should be de-listed immediately.
China accepts just audits from the WHO
The American people, ie Main St. are perfectly FINE with what comes next. We don't want to support the PRC. It's the Wall St. globalist whores who are worried, F them.
A cotizar a Europa las empresas chinas...... gracias Trump, al final nos vas a hacer un favor.
the current Senate led by Moscow Mitch need to clean up their own act first
Yet we aren't even allowed to audit the Federal Reserve?
Luckin Coffee, part deux