Some 248 Chinese companies listed on US exchanges will be forced to delist within three years if they fail to fall into line with US audit norms that Congress has ordered the Securities and Exchange Commission to enforce. The companies have a combined market capitalisation of $2.1 trillion – equal to about 3.7% of US market capitalisation.
There’s no sign China will bend. On the contrary, it’s issued new regulations since July that prohibit Chinese companies from complying with US audit requests.
Caught in the middle are American and international investors in Chinese companies.
The post AF TV – Why the US is delisting Chinese companies appeared first on Asia Financial.
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