Chinese tech stocks fall as US delisting threat looms

new_york_stock_exchange_adobe_575x375.jpg
By Jonathan Breen
25 Mar 2021

The US securities regulator has introduced rules that would delist foreign companies from local stock exchanges if they do not comply with US auditing standards. Shares in Chinese companies dual listed in Hong Kong and the US dived following the move.

The Securities and Exchange Commission said on Wednesday that it had adopted “interim final amendments to implement the congressionally mandated submission and disclosure requirements" of the Holding Foreign Companies Accountable (HFCA) Act. The Act was signed into law by former US president Donald Trump in December last year. It ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial