BEIJING AGAINST BILL REMOVING CHINA FIRMS FROM U.S. BOURSES
China said it firmly opposed US President Trump signing a bill that would kick Chinese companies off US stock exchanges unless they adhere to US auditing standards, saying it contains discriminatory provisions against Chinese companies, Cate Cadell reported for Reuters.
“This is nothing but an unjustified political crackdown on Chinese enterprises listed in the United States,” foreign ministry spokesman Wang Wenbin told a daily news briefing in Beijing.
“It will seriously hinder the normal listing of Chinese companies and distort the basic market economy rules that the US has always touted,” Wang said.
President Donald Trump on Friday signed legislation that would remove Chinese companies from US stock exchanges unless they adhere to American auditing standards, the White House said, giving the Republican one more tool to threaten Beijing with before leaving office next month.