China's securities watchdog on Sunday condemned a U.S. law that could block Chinese firms from U.S. securities exchanges, saying it politicised regulation and would damage both countries.
FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song
The U.S. Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations. The act will harm the interests of both countries, as it not only hinders foreign companies from going public in the United States, but will also weakens global investors’ confidence in U.S. capital markets, the CSRC said.
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