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Posted on | December 19, 2020 | 1 Comment

Investing.com announced that the President also signed legislation that would kick Chinese companies off of US stock exchanges:

President Donald Trump on Friday signed legislation that would kick Chinese companies off U.S. stock exchanges unless they adhere to American auditing standards, the White House said…

…”The Holding Foreign Companies Accountable Act” bars securities of foreign companies from being listed on any U.S. exchange if they have failed to comply with the U.S. Public Accounting Oversight Board’s audits for three years in a row.

While it applies to companies from any country, the legislation’s sponsors intended it to target Chinese companies listed in the United States, such as Alibaba (K:BABA), tech firm Pinduoduo (NASDAQ:PDD) Inc and oil giant PetroChina Co Ltd.

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Comments

One Response to “”

  1. Davey Crockett
    December 19th, 2020 @ 6:28 pm

    I wouldn’t want any product made in chinck land!

    Who needs a commie?

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