Bill on U.S.-listed companies: Chinese firms the target?

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  • CGTN published this video item, entitled “Bill on U.S.-listed companies: Chinese firms the target?” – below is their description.

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    Headwinds gather over #Chinese companies listed on #American stock markets. On Wednesday, the U.S. House of Representatives passed a bill called the Holding Foreign Companies Accountable Act. The bill requires companies to give U.S. regulators more access to their audit information. Failure to comply would mean removal from U.S. exchanges after 3 years. “What the U.S. is doing is no other than another concrete example of its political suppression of Chinese companies in a bid to contain China’s development,” Chinese Foreign Ministry Spokesperson Hua Chunying said on Thursday, adding “the Chinese side will certainly take necessary measures to safeguard its legitimate and lawful rights and interests.” What does this piece of U.S. legislation mean for Chinese companies listed in U.S., the financial markets, and China-U.S. ties? #Politics

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