Chinese Companies Could Be Forced to Give Up U.S. Listings Under Senate Bill

Discussion in 'Political Issues' started by papershoot, May 21, 2020.

  1. papershoot

    papershoot

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    "WASHINGTON—Chinese companies could be forced to give up their listings on American stock exchanges under legislation approved by the Senate on Wednesday.

    At the heart of the dispute is China’s unwillingness to grant routine access to audit records sought by American regulators.

    Luckin Coffee Inc. is the latest example of a hot Chinese stock that gained a following with American investors before fraud was disclosed. Nasdaq has moved to delist Luckin, which went public in 2019 and later said its employees fabricated as much as $310 million in sales."

    https://www.wsj.com/articles/chines...under-senate-bill-11590015423?mod=djem10point


    View: https://www.youtube.com/watch?v=3tigVYfHVmQ
     
  2. tarpleyg

    tarpleyg

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    I'm good with that. The harder we make it for those commie Chinese rat bastards, the better.
     
    trajan07, marchboom, Ramjet38 and 9 others like this.

  3. CAcop

    CAcop

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    If the companies aren't open with their books, within reason, why should anyone trust them? They could be full of **** and people lose money or they are just shell companies to support the commie regime.
     
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  4. RenoF250

    RenoF250

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    Yeah, US companies can't get away with that (in theory) why should the chinese?
     
    Willard likes this.
  5. QNman

    QNman Old timer

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    Our house (market), our rules. Can't abide, then GTFO.
     
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  6. thewitt

    thewitt

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    That would be an interesting turn of events.
     
  7. flyover

    flyover

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    We should not allow them to purchase American companies in the first place.
     
    Willard likes this.
  8. Ramjet38

    Ramjet38 Mentally Frozen

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    Get rid of everything chinese except firecrackers.
     
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  9. Taz

    Taz

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    Not going to get anywhere. Way too much money involved for the right folks. Senate passes this knowing not a soul in the House will take it up. Kind of like the House passing repeat ObamaCare bills every year knowing full well it wont go anywhere. If the Senate felt that this had a chance of passing they would have buried it so deep it would have popped up in Beijing.
     
    Willard likes this.
  10. snerd

    snerd Horselover Fat

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    The friction with China is increasing daily. Hong Kong is on the brink, as the CCP is flexing its muscle there to rein in their freedoms.
     
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  11. marchboom

    marchboom

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    Will be interesting to watch the democRATs defend the chinese...AGAIN!