Senate passes bill that could block Chinese firms from U.S. securities exchanges

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 measure, sponsored by Republican Senator John Kennedy and Democratic Senator Chris Van Hollen, passed by unanimous consent. However, it must pass the House of Representatives and be signed by President Donald Trump to become law.

The measure also would require public companies disclose whether they are owned or controlled by a foreign government.

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Reuters /  🏆 2. in US

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