The US Senate unanimously passed a bill Wednesday that would prevent companies that refuse to open their books from listing on Wall Street. The bill's bipartisan cosponsors said the goal is to "kick deceitful Chinese companies off US exchanges." Earlier this week, Nasdaq (NDAQ) proposed a trio of rules that would make it tougher for Chinese companies to go public on that exchange. Nasdaq also moved to delist Luckin Coffee (LK) in the wake of the Chinese firm's accounting fraud.
onsdag 27. mai 2020
Here comes the US crackdown on China stocks
Chinese stocks are the latest flashpoint in an intensifying standoff between the United States and China. In recent days, US lawmakers, government agencies and stock exchanges have taken steps aimed at limiting Beijing's access to America's vast capital markets.
The US Senate unanimously passed a bill Wednesday that would prevent companies that refuse to open their books from listing on Wall Street. The bill's bipartisan cosponsors said the goal is to "kick deceitful Chinese companies off US exchanges." Earlier this week, Nasdaq (NDAQ) proposed a trio of rules that would make it tougher for Chinese companies to go public on that exchange. Nasdaq also moved to delist Luckin Coffee (LK) in the wake of the Chinese firm's accounting fraud.
The US Senate unanimously passed a bill Wednesday that would prevent companies that refuse to open their books from listing on Wall Street. The bill's bipartisan cosponsors said the goal is to "kick deceitful Chinese companies off US exchanges." Earlier this week, Nasdaq (NDAQ) proposed a trio of rules that would make it tougher for Chinese companies to go public on that exchange. Nasdaq also moved to delist Luckin Coffee (LK) in the wake of the Chinese firm's accounting fraud.
