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Re: VeronicaFox post# 1226

Sunday, 06/09/2019 6:02:18 PM

Sunday, June 09, 2019 6:02:18 PM

Post# of 1380
Few foreign stocks and absolutely nothing Chinese.

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"New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S."

"American stock exchanges have emerged as the latest battleground in the ongoing political fight between the U.S. and China. While bilateral discussions on trade have made little headway in recent weeks, Republican and Democratic lawmakers on Capitol Hill have aggressively moved forward with legislation that increases oversight for more than $1 trillion worth of U.S.-listed Chinese companies, putting stocks like Alibaba (BABA) in the spotlight and future listings on these exchanges in question.

“We welcome investment from companies from China so long as they are complying with other laws,” Senator Chris Van Hollen (D-MD) said, speaking to Yahoo Finance. “But they should play by the same laws as everyone else. Those rules are designed to protect American investors and to protect confidence.”

Two bipartisan bills have been introduced over the last few months, aimed at going after Chinese companies that don’t comply with auditing rules in the U.S."

" 156 Chinese companies currently trade on the major exchanges, with a combined market cap of $1.2 trillion, according to the U.S.-China Economic and Security Review Commission.

But those same companies have managed to skirt financial auditing by the PCAOB,"

https://www.yahoo.com/finance/news/bipartisan-bills-threaten-chinese-companies-listed-in-us-000758485.html

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