Posted on 09/28/2019 3:56:40 PM PDT by Hojczyk
WASHINGTON (Reuters) – President Donald Trump’s administration is considering delisting Chinese companies from U.S. stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of U.S.-China trade tensions.
The move would be part of a broader effort to limit U.S. investment in Chinese companies, two of the sources said. One said it was motivated by the Trump administration’s growing security concerns about the companies’ activities. In June, U.S. lawmakers from both parties introduced a bill to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits, or face delisting.
Chinese authorities have long been reluctant to let overseas regulators inspect local accounting firms – including member firms of the Big Four international accounting networks – citing national security concerns.
China says it cannot allow its companies to submit to oversight by PCOAB because of rules prohibiting the storage, processing or transfer of any material considered to be state secrets or national security matters.
U.S. hedge fund manager Kyle Bass, a prominent critic of China, said on Friday that Chinese companies should have to play by U.S. rules if they want to sell to U.S. investors.
“The U.S. should require any securities sold in the US to adhere to US Securities Laws. Crazy huh?” Bass wrote on Twitter.
(Excerpt) Read more at oann.com ...
How many people know that there was an exception made for Chinese companies listing on US stock exchanges?
Alibaba wouldn’t like that
As of 2 hours again....there is not intention to do this.
oops....2 hours ago...
If they have been involved with any hint of scandal, yes. Ban them permanently.
Allowing the Communist Chinese into the WTO and allowing them to be listed on the NYSE with exemptions from any oversight was ANOTHER Bi-Partisan, reach across the aisle, RINO-democrat disaster.
Just another futile attempt at appeasement in the hopes that they’ll like us more. And, then behave in a civilized non-predatory manner. When has this ever worked?
Just to repeat my pet peeve.
“Considers”
“about to”
“Ponders”
“Prepares”
“Mulling”
“Poised to”
This is the 24 hour news cycle’s version of non-news. When it happens, it’s news.
“Weighs in on”
Another one of my favorites
This is great!!!
And it’s one reason why they are all out to bring down Trump now more than ever.
They want the slave labor and corrupt deals.
“As of 2 hours again....there is not intention to do this.”
What were you born in a barn?
Of course it’s not about to happen.
It’s great to say it, to suggest it.
Get it out there and start from there.
Senator Rubio has drafted legislation to do this.
I did not know that. How far back does it go? Clinton? Bush? 0bama?
President Trump
Protecting American investors.
“China says it cannot allow its companies to submit to oversight by PCOAB“
Okay then. Find another Exchange.
L
W. 0. 0. T. !!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.