https://www.bloomberg.com/news/arti...siness&utm_medium=social&utm_content=business Two senators want the Trump administration to push for another concession in its trade negotiations with China: better protections for U.S. investors who buy shares of Chinese companies that are listed on American exchanges. Senators Chris Van Hollen of Maryland and John Kennedy of Louisiana are urging U.S. Trade Representative Robert Lighthizer to demand that China allow U.S. regulators to scrutinize the audits of Chinese companies that trade in the U.S. Critics have argued that regulators’ inability to examine such audits puts American investors at risk of buying the shares of companies that might be manipulating their financial statements. “The current failure of China to comply with our laws and play by the same rules as everyone else puts American investors and the credibility of our markets at risk,” Van Hollen, a Democrat, and Kennedy, a Republican, wrote in a letter to Lighthizer dated Wednesday. The lawmakers want the Trump administration to bar Chinese companies from trading on American exchanges if they won’t turn their audits over to the Public Company Accounting Oversight Board, a U.S. regulator. The request dovetails with legislation the two senators proposed in March. For years, Chinese accounting firms have resisted U.S. regulators’ demands for information about their audits of U.S.-listed firms, which include giants like Alibaba Group Holding Ltd.. The Chinese auditors argue that disclosing the records would violate laws that prohibit the transfer of data that might contain state secrets to foreign entities. Ali Baba The chinese Enron is already ahead of this with HK IPO soon... When the ccp pull the plug on it and make their escape once HK listing is a done deal, their will be anger... ETF's, Pension and Mutual Funds exposed to this giant accounting fraud, mkt cap 415 Bil as of this moment
solid proof, these politicians are paid to do the dirty work by the pentagon to destroy China rise and competition in Asia. China military can win a war if Taiwan was to foolish enough to declare independence and give Beijing red army the middle finger and mouthing off. A classic case of attempt to punish Chinese listed companies by limit their ability to sell to investors close to defamation or accusation of FRAUD. like 50% of the stocks and companies in US is a fraud. These companies are listed in China and audited there. these are private companies okay and just listing on the public exchange. anyone investing in a 'private company' can demand their own audits before investing. Americans trying to bully a bully? threaten to kill a killer. they will kill you! This anti-China or xenophobia isn't going give you any points in the negotiating table, in fact the communist will bring their guns to negotiating table. and this racist BS ain't going down well too. The public doesn't own these companies. these are 'private' companie controlled by private individuals and instiutions and they can do their own due deligence and don't need the gov't involved. in fact it's the SEC and FINRA who are giving fraudsters a venue to steal from American investors. the gov't is helping fraudsters. if someone or company rips you off etc. just buy a gun shoot him,,take the law into your own hands. fraudsters are killed in China. many of the crimes in Wall street, man they be executed for their crimes, in US they walk free and after release from club med still a billionaire.
Pump your brakes - it is entirely reasonable that a Chinese Company listed on a US stock exchange be required to have audited financial statements prepared by an accredited third party accounting firm - US Companies do so by law. If a Chinese Company doesn’t want to abide by the same accounting standards as American Companies then by all means don’t list on a US Stock Exchange. Nobody’s forcing them to. ITS A UNITED STATES REGULATED STOCK EXCHANGE. Shanghai and Shenzhen have stock markets. Kinda.
these are ADR. or American depository receipts. you don't own the shares and are H shares non-voting shares, they are already 'audited' just red tape for ulterior 'motives' okay! sounds like these 'paid politicians' are so suddenly gung ho about protecting investors from the 50% of frauds and fraudulent drug companies selling opoids and getting the public 'addicted drugs' and pushing gambling to seniors and get a cut of pot profits. Where was the gov't during mortgaged backed nothing fraud. the gov't was helping these fraudsters in wall street. These 'politicians' or senators are as dumb of a dog and don't have clue about the wall street 'rigged' and crooked markets. all they see is their portfolio keep rising. from central bank pressure. you have Trump telling the FED to 'support' the rich for doing nothing but causing 'inflation' or giving money to parasites in the economy or society. or economic system
just look at the background or education of these 'politicians' they all losers like Trump who is economics major, filed for bankruptcy twice, and you have mayors who sell drugs..and lots of politicians are career politicians who cannot make it in law. like Obama, Clinton who want to make money by yaking and beeching. and voting. some of the ex-senators are ex-westlers. none of the politicians are ex-engineers, ..you guys are electing losers and have losers making decisions. like what the heck, don't these politicians have nothing to do but vote on abortion? and buying votes etc. for special interest groups like Christian religious groups, environmental groups. or any 'special' group. etc. with 300 million americans and americans elected Trump..the President the alpha male or leader...this was the first time in history in American politics that you have people protesting after an Presidential election in US. Trump was BAD NEWS okay! the guy is trouble maker and cause wars etc for his pleasure. type of guy . the unemployment of 5.4% is fake number. anyone who is unemployed for more than 1 year is not 'unemployed' unemployment is more like 10% and in some towns and cities it's 20% a large percentage of the society don't see any benefit to the rising stock market prices. most of the money going to wall street is from people's paychecks in unions and gov't pensions. AGAIN, the working people giving money to the rich.
And yet HUNDREDS OF THOUSANDS of Chinese Citizens trek half way around the world in order to attend American and Canadian Universities every year. And every year Chinese Citizens invest hundreds of billions of dollars in American and Canadian real estate, properties, and Companies. And every year hundreds of thousands of Chinese Citizens board airplanes in order to visit America and Canada. And America and Canada don’t order their military to slaughter peaceful protestors.
the communist could BAN Chinese individuals from traveling or investing in America. vice versa that is 'trade war' and kick out apple or kick out American companies. Fidel Castro in Cuba kicked out all American pigs out of their country right? and 'nationalized' all the casinos and resorts. and nationalized all the private businesses. and those protestors were not 'peaceful' they were enemies of the state and represented a 1% and plot was to overthrow the 'communist' regime. supported by foreign interest in hong kong and Taiwan and pentagon or American interest. the gov't EVOKED 'martial LAW' shooting protestors is legit. these protestors enemies of the state! and considered .TRAITORS.. Treason under 'martial law' is punishable by execution! The war in Syria started as 'peaceful' protesters too and look what happened. all out civil war.OKAY!
what is a troll. the truth to shock for you!.. like your paid posters to spread your evil agenda okay!..I'm just responding to your post. and evil agenda. this is plot by the powers to be to overthrow the communist control of the Chinese economy. which wall street cannot control and has no control in China. okay! the US media is under control by gov't propaganda. and all the news is CENSORED in America via so called 'editing'. or the GATE keepers of news the news is not news but paid corporate 'PROPAGANDA" known as PROMOTING and EVIL AGENDA AAAAAHHHH