December 8, 2022

Taylor Daily Press

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More than 80 Chinese companies are at risk of losing the US stock market list

The now-popular “listed list” of the US Securities and Exchange Commission SEC goes on and on. Meanwhile, the regulator has already added more than 80 Chinese companies to the list.

In the United States, the new Holding Foreign Companies Accountability Act (HFCAA) is effective from 2020. The law requires foreign companies to comply with the SEC’s audit requirements. There will be anyone who does not do this List deletion Will be placed. Every company on that list is at risk of losing its US stock market list.

Major Chinese technology companies

News agency Reuters The U.S. Stock Exchange watchdog says it has already added more than 80 Chinese companies to the list. In March the counter was still standing At 5 p.m.That list includes some of the top names in the Chinese tech world, including search engine Baidu and e-commerce company

“The company will continue to comply with laws and regulations applicable in both China and the United States and will seek to maintain its inventory on both the Nasdaq and the Hong Kong Stock Exchange,” said in a statement. List of SEC on Wednesday.

Some electric car manufacturers, including Xpeng and Neo, have been at risk of losing their stock market listings since yesterday. They are Tesla’s two main competitors in China.

Contract in production

The request to access the company data was rejected by China for national security reasons. The Asian country fears that the United States will access sensitive data in this way. Regulators in both countries are currently discussing the operational details of the audit agreement that Beijing hopes to sign this year.

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A source said in late April, “China is likely to create clear classifications for disclosure and reduce the range of sensitive, confidential information.” Reuters

China has already promised in March Foreign IPOs Excellent support. “Chinese and US regulators are moving towards a cooperation plan on Chinese shares listed in the United States,” it said in state media at the time.