Why the U.S. Is Threatening to Delist China Stars Like Alibaba

Bloomberg2021-03-30

Some big-name Chinese stocks could eventually be kicked off the New York Stock Exchange and Nasdaq if they refuse to let U.S. regulators see their financial audits. An effort by the U.S. Securities ...

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精彩评论

och
2021-03-30
och
Oh Like and comment thanks![微笑]
alvernsim
2021-03-30
alvernsim
Noice
Dirui
2021-03-30
Dirui
Tricky situation
- Ezumu:
  feefhjudf
RichDad
2021-03-30
RichDad
Lit
Fionfion82
2021-03-30
Fionfion82
Like and comment pls 😊
- och:
  [微笑]
- YS_ZENG:
  Done ;)
- 乐乐兄弟:
  Done, pls like & comment too 😊
jer88
2021-03-30
jer88
Pls like and respond
- 乐乐兄弟:
  👍

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Under a law signed by Trump in December 2020, a company would be delisted only after three consecutive years of non-compliance with audit inspections, and it could return by certifying that it had retained a registered public accounting firm approved by the SEC. The three-year clock wouldn’t start ticking until the SEC drafts rules for how the law will be carried out. The SEC kick-started that practice with a March 24 announcement seeking public comment on the type of disclosures and documentation that firms will have to share.5. Who would be affected?Alibaba -- by far the largest U.S.-listed Chinese corporation -- for one. On a post-earnings call in May 2020, it stressed that its books are audited under U.S. standards by a major accounting house. In all, the PCAOB says it’s blocked from reviewing the audits of about 200 companies based in China or Hong Kong, including Alibaba, PetroChina, Baidu and JD.com. Chinese companies traded in the U.S. have a cumulative market capitalization in excess of $1.8 trillion.6. Why do Chinese companies list in the U.S.?Companies from around the globe are attracted by the liquidity and deep investor base of U.S. capital markets. They offer access to a much bigger and less volatile pool of capital, in a potentially speedier time frame. China’s own markets, while giant-sized, remain relatively underdeveloped. Fund-raising for even quality companies can take months in a financial system that is constrained by state-owned lenders. Dozens of firms pulled planned IPOs this year after regulators tightened listing requirements to protect the retail investors who dominate stock trading, as opposed to the institutional investors and mutual-fund base active in the U.S. And until recently, the Hong Kong exchange had a ban on dual-class shares, which are often used by tech entrepreneurs to keep control of their startups after going public in the U.S. It was relaxed in 2018, prompting big listings from Alibaba, Meituan and 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and comment pls 😊","listText":"Like and comment pls 😊","text":"Like and comment pls 😊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/355513167","repostId":1187972652,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3919372,"gmtCreate":1617085580216,"gmtModify":1635746618902,"authorId":3565663543754207,"author":{"id":3565663543754207,"idStr":"3565663543754207","authorId":3565663543754207,"name":"och","avatar":"https://static.tigerbbs.com/1c195b2a32a90ae2210984600e352644","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":355513167,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"},{"id":3919451,"gmtCreate":1617086657474,"gmtModify":1635746614666,"authorId":3561416218644754,"author":{"id":3561416218644754,"idStr":"3561416218644754","authorId":3561416218644754,"name":"YS_ZENG","avatar":"https://static.tigerbbs.com/80872255ccfe73879d5d778410465550","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":355513167,"type":1,"supId":0,"prevId":0,"content":"Done ;)","text":"Done ;)","html":"Done ;)"},{"id":3919505,"gmtCreate":1617087455374,"gmtModify":1635746611946,"authorId":3565093231884966,"author":{"id":3565093231884966,"idStr":"3565093231884966","authorId":3565093231884966,"name":"乐乐兄弟","avatar":"https://static.tigerbbs.com/eb090d0ef806d1ab6ea260cffcde7569","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":355513167,"type":1,"supId":0,"prevId":0,"content":"Done, pls like &amp; comment too 😊","text":"Done, pls like &amp; comment too 😊","html":"Done, pls like &amp; comment too 😊"}],"langContent":"EN"},{"id":355513397,"gmtCreate":1617084191519,"gmtModify":1634522736689,"author":{"id":"3558393758595354","authorId":"3558393758595354","name":"jer88","avatar":"https://static.tigerbbs.com/c64b2a57368e6315cf4e91bbf34325ac","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3558393758595354","idStr":"3558393758595354"},"htmlText":"Pls like and respond","listText":"Pls like and 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