Countdown Starts on Chinese Company Delistings After Long U.S.-China Audit Fight
The three-year countdown will accelerate a decoupling of the world’s two largest economies
The SEC, headed by Gary Gensler, is working out details of how the Holding Foreign Companies Accountable Act will be implemented.
Photo: Bill Clark/Pool/CNP/Zuma PressU.S. securities regulators have started a countdown that will force many Chinese companies to leave American stock exchanges, after a long impasse between Washington and Beijing over access to the companies’ audit records.
The action will accelerate the decoupling of the world’s two largest economies and affect investors that own securities in more than 200 U.S.-listed Chinese companies with a combined market value of roughly $2 trillion.
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