Trump signed the “foreign company Accountability Act” to restrict Chinese companies from listing in the United States

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Original title: another threat tool before leaving office! Trump signed the “foreign company Accountability Act” to restrict the listing of Chinese enterprises in the United States
According to the latest news from Reuters on the 19th, the White House said that US President trump signed the “foreign company Accountability Act” on the 18th local time to restrict Chinese enterprises from listing in the United States. According to the report, this is another tool for Republicans to threaten China before trump leaves office next month.
Reuters: trump signed a bill to restrict Chinese companies from listing on the US stock exchange
In May this year, the above-mentioned bill was passed by the US Senate, and on December 2, the US House of Representatives passed the bill. The Act provides that foreign companies will be banned from listing on any U.S. exchange if they fail to pass the audit of the public company accounting oversight board (PCAOB) for three consecutive years. Many analysts said that the bill may prevent some Chinese companies from listing on us exchanges unless they comply with us auditing standards.
Although the bill applies to companies in any country, it is aimed at Chinese companies listed in the United States, such as Alibaba and pinduoduo, Reuters reported.
A spokesman for the Chinese Foreign Ministry has responded to relevant issues at a press conference several times before. Hua Chunying said on the 2nd of this month that in today’s highly globalized capital market, the right way to solve the problem is to strengthen cross-border regulatory cooperation and strengthen dialogue and cooperation on issues such as protecting the legitimate rights and interests of investors. She stressed, “we firmly oppose the politicization of securities regulation and hope that the US side can provide a fair and just environment for foreign enterprises to invest and operate in the United States, instead of trying to set up barriers at all levels.”
In response to the passage of the bill, Hua Chunying again said on December 3 that the US approach is another concrete action to crack down on China’s enterprise politics and another concrete manifestation of the US side’s crackdown on and containment of China’s development. China always believes that in today’s highly globalized capital market, the right way to solve the problem is to strengthen dialogue and cooperation between relevant parties on issues such as strengthening cross-border regulatory cooperation and protecting the legitimate rights and interests of investors. We firmly oppose the politicization of securities regulation by the US side. If the case is finally enacted, it will seriously weaken the confidence of global investors in the U.S. capital market, and eventually damage the international status of the U.S. capital market and its own interests. It is hoped that the US side will recognize the situation and provide a fair, just and non discriminatory environment for foreign enterprises to invest and operate in the United States, instead of setting up barriers at all levels. Of course, China will take necessary measures to safeguard its legitimate and legitimate rights and interests.