The Death of China: US to delist all China Companies by 2021

[shockshiok]

all accounting in China all lies. cannot comply will surely die liao

https://www.reuters.com/article/us-...-be-delisted-as-of-2022-mnuchin-idUSKCN2562QX


BUSINESS NEWS
AUGUST 10, 2020 / 7:01 PM / 4 DAYS AGO
Chinese firms that fail U.S. accounting standards to be delisted as of 2022: Mnuchin


WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.
Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue.
Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. “As of the end of next year ... they all have to comply with the same exact accounting, or they will be delisted on the exchanges,” he said.

The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world’s two largest economies. Tensions between the two countries have flared in past months over China’s handling of the coronavirus outbreak, Hong Kong and human rights.
U.S. President Donald Trump said China was also failing to meet its commitments to buy more U.S. goods under a Phase 1 trade deal signed in January, although he said purchases should increase next year.
“We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things,” Trump told reporters.

He said increased purchases of U.S. goods required under the trade deal would “never pay for the loss of life in our country and all over the world.”
Trump also repeated his calls for the World Trade Organization to stop treating China as a developing country, arguing that doing so gave Beijing unfair advantages over the United States and other countries.
China argues the classification is justified since many of its regions are still developing.
Reporting by Jeff Mason, Andrea Shalal and Alexandra Alper; Editing by Chris Reese and Sam Holmes
Our Standards:The Thomson Reuters Trust Principles.

 

[knnccb]

Munchkin lol

 

[laksaboy]

Should have done that long ago. Most listed Chinese companies are fraudulent. Take note, you clowns at SGX.

 

[leeisphtui]

This is potentially very bad news for China. There are over 156 Chinese companies listed in the USA and counting, with a combined market cap of 1.2 Trillion USD

Cutting these firms off from the USA means they will be forced to relist elsewhere, Shenzhen, etc meaning that investors will be at risk if the transparency of these firms is questionable. Anyone remember luckin coffee?

https://www.uscc.gov/chinese-companies-listed-major-us-stock-exchanges

Chinese Companies Listed on Major U.S. Stock Exchanges

Please find linked a complete list of all Chinese companies listed on the NASDAQ, New York Stock Exchange, and NYSE American, the three largest U.S. exchanges. As of February 25, 2019, there were 156 Chinese companies listed on these U.S. exchanges with a total market capitalization of $1.2 trillion.

An asterisk next to the stock symbol indicates a company with at least 30 percent state ownership. As of February 25, 2019, there were at least 11 Chinese state-owned companies listed on the three major U.S. exchanges.

A highlighted row indicates a company that was not included on the Public Company Accounting Oversight Board

 

[laksaboy]

Investing in China? With the current trajectory, China will end up like North Korea. What good is a stock market in a country like North Korea?

 

[blackmondy]

All our SeePeeF investment in Tiong Cock can hong kan liao....

 

[londoncabby]

Not much Media published but Europe is joining the US of A. Huawei banned from France too,

How Europe’s Big 3 Are Shifting on China
As the U.K. leads and France follows, the world now awaits a verdict from Germany on Huawei, Hong Kong, and more

In recent weeks, the United Kingdom has made substantial moves to shift its China policy, first by inviting Hong Kong British Overseas passport holders to apply for permanent residency, and second by excluding Huawei from its 5G networks from 2027 onwards. France has followed the U.K.’s lead on both accounts, refusing to ratify an extradition treaty with Hong Kong and requiring local operators stop using Huawei by 2028.

 

[syed putra]

US is not only paying for its defense bill, but also that for taiwan, china, japan and korea from the massive trade deficit. If US stops buying, all these countries will suffer.

 

[redbull313]

This is very good news, will cause the stupid Chinks there to audit themselves and then we will find out just how many fraud cases.

Its high time someone like the US took action about the fraud chinks

 

[Hypocrite-The]

Tiong companies can lists in hk

 

[Peiweh]

HA HA HA HA

Yes, teach these stupid PRCs a lesson, show them who is king of the world - Amazing #1 in the world America. God I love America. So great. So powerful. Hee Hee Hee

 

[leeisphtui]

Not much Media published but Europe is joining the US of A. Huawei banned from France too,

How Europe’s Big 3 Are Shifting on China
As the U.K. leads and France follows, the world now awaits a verdict from Germany on Huawei, Hong Kong, and more

In recent weeks, the United Kingdom has made substantial moves to shift its China policy, first by inviting Hong Kong British Overseas passport holders to apply for permanent residency, and second by excluding Huawei from its 5G networks from 2027 onwards. France has followed the U.K.’s lead on both accounts, refusing to ratify an extradition treaty with Hong Kong and requiring local operators stop using Huawei by 2028.

I think soon this Huawei should just leave China, if they want to survive. No point talking up the China tech sector if they are going to be sanctioned. Better just relocate out of China

 

[kryonlight]

I think soon this Huawei should just leave China, if they want to survive. No point talking up the China tech sector if they are going to be sanctioned. Better just relocate out of China

No wei! Huawei is CCP and CCP is Huawei.

 

[democracy my butt]

As if Chinese companies need Wall Street?? LOL!!

Wall Street is NOTHING BUT A DEAD SHITHOLE!!

China itself will REPLACE Wall Street!

 

[tun_dr_m]

As if Chinese companies need Wall Street?? LOL!!

Wall Street is NOTHING BUT A DEAD SHITHOLE!!

China itself will REPLACE Wall Street!

MARK MY WORDS:

Wall Street WILL DIE!

China is the REPLACEMENT!

 

[Peiweh]

I think soon this Huawei should just leave China, if they want to survive. No point talking up the China tech sector if they are going to be sanctioned. Better just relocate out of China

But if they leave, then they will try to spead communism and poop where they go. Remember, they are all PLA soldiers, these PRCs. Stealing, lying, and pooping

 

[leeisphtui]

But if they leave, then they will try to spead communism and poop where they go. Remember, they are all PLA soldiers, these PRCs. Stealing, lying, and pooping

View attachment 88836

I think these chinese must go around the world defecating in public. Maybe compile a list of countries they do this in? Here in Singapore we do not tolerate such behavior.

 

[laksaboy]

I think these chinese must go around the world defecating in public. Maybe compile a list of countries they do this in? Here in Singapore we do not tolerate such behavior.

Commies have always been unhygienic. Remember how Deng Xiaoping kept spitting when meeting with Margaret Thatcher?

Winnie Xi's ex-wife has said that back in the day, he didn't shower or brush his teeth for an entire week.

 

[redbull313]

I think soon this Huawei should just leave China, if they want to survive. No point talking up the China tech sector if they are going to be sanctioned. Better just relocate out of China

that would be very bad news for Singapore. guess where they like to come? Singapore. disaster looming.

 

[leeisphtui]

that would be very bad news for Singapore. guess where they like to come? Singapore. disaster looming.

yes i am fully aware of the issues now. the PAP has failed to protect us from foreign influence. china, india. but now the chinese are taking over and soon we will be nobody here