Trump May Sign Bill That Could Delist Chinese Companies: White House

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Trump Expected To Sign Bill That Could Delist Chinese Companies: White House

The bill was passed the Senate earlier this year.

Washington:

US President Donald Trump is expected to sign a bill that could prevent some Chinese companies from listing their shares on US exchanges unless they adhere to US 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 US exchanges three years to comply with US auditing rules before being removed from US markets.

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(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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