Trump expected to signal bill that may perchance well well delist Chinese corporations: White Condominium

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Trump expected to signal bill that may perchance well well delist Chinese corporations: White Condominium

The transfer may perchance well hit corporations comparable to Alibaba, tech agency Pinduoduo Inc and oil enormous PetroChina Co Ltd

Subject matters

Donald Trump | Auditing | Alibaba


Reuters  | 
Washington 

Donald trump

File photo of US President Donald Trump | Record: AP/PTI

U.S President Donald Trump is expected to signal a bill that may perchance well well pause some Chinese corporations from itemizing their shares on U.S. exchanges unless they adhere to U.S. auditing standards, the White Condominium stated on Wednesday.

The bill, which passed the Senate earlier this one year and was licensed by the Condominium of Representatives on Wednesday, may perchance well hit corporations comparable to Alibaba, tech agency Pinduoduo Inc and oil enormous PetroChina Co Ltd..

If signed into laws, the measure would give Chinese corporations listed on U.S. exchanges three years to conform with U.S. auditing rules earlier than being eradicated from U.S. markets.

(Preferrred the headline and film of this myth may perchance well well were remodeled by the Exchange Commonplace workers; the relaxation of the explain is auto-generated from a syndicated feed.)

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First Published: Thu, December 03 2020. 16: 58 IST