The U.S. House of Representatives is set to vote on bipartisan legislation that would impose restrictions on Chinese companies listed on U.S. exchanges, including requiring certification that they’re not under the control of a foreign government.
The bill’s sponsors say the aim is to ensure foreign companies traded in America are subject to the same independent audit requirements that apply to U.S. firms. In doing so, the measure threatens to boot Chinese companies, including behemoths like Alibaba Group Holding Ltd. and Baidu Inc., out of American stock markets.
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