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Trump expected to sign bill that could delist Chinese companies, White House says

12/03/2020 | 06:28am EST
FILE PHOTO: U.S. President Trump speaks to reporters at the White House in Washington

WASHINGTON (Reuters) - 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.

(Reporting by Alexandra Alper and Patricia Zengerle; Editing by Leslie Adler)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.61% 56.29 Delayed Quote.6.15%
PETROCHINA COMPANY LIMITED 1.54% 2.64 End-of-day quote.10.00%
PINDUODUO INC. 4.71% 168.79 Delayed Quote.-5.00%
WTI 0.63% 53.51 Delayed Quote.8.19%
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