WASHINGTON: U.S President Donald Trump is expected to sign a bill that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they adhere to U.S. auditing standards, the White House said on Wednesday.
The bill, which passed the Senate earlier this year and was approved by the House of Representatives on Wednesday, could hit companies such as Alibaba, tech firm Pinduoduo Inc and oil giant PetroChina Co Ltd..
If signed into law, the measure would give Chinese companies listed on U.S. exchanges three years to comply with U.S. auditing rules before being removed from U.S. markets.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)