Traders work the floor of the New York Stock Exchange during the IPO of Chinese cosmetics company Yatsen Holding Ltd on November 19. Photo: NYSE via AP
US bill to delist Chinese companies from stock exchanges passes in House of Representatives
- The Holding Foreign Companies Accountable Act would punish firms that do not comply with auditing oversight rules
- The legislation now moves to US President Donald Trump’s desk for his signature, though he has not indicated whether he will sign it into law
Traders work the floor of the New York Stock Exchange during the IPO of Chinese cosmetics company Yatsen Holding Ltd on November 19. Photo: NYSE via AP
Corrected [7:44am, 3 Dec, 2020]
- [7:44am, 3 Dec, 2020]
An earlier version of this article incorrectly stated that the House legislation needs to be reconciled with the Senate's. The two versions are identical.
- [4:09pm, 3 Dec, 2020]
An earlier version of this article incorrectly stated that the bill could lead to Tencent being forced off US exchanges. Tencent shares are actually listed in Hong Kong.
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