BEIJING (CHINA) – China has strongly opposed the signing of a bill that could remove Chinese companies from the US stock exchange unless they adhered to U.S. auditing standards. Chinese officials stated that the bill contains discriminatory provisions against Chinese companies.
The White House has informed that President Donald Trump signed the legislation on Friday. The move has given the Republican one more tool to threaten Beijing, before leaving office next month.
“This is nothing but an unjustified political crackdown on Chinese enterprises listed in the United States,” said Chinese foreign ministry spokesman Wang Wenbin in Beijing.
“It will seriously hinder the normal listing of Chinese companies and distort the basic market economy rules that the U.S. has always touted,” he added.