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China opposes US discriminatory provisions against Chinese companies

作者:admin 2020-12-22

China opposes US discriminatory provisions against Chinese companies

Wang Wenbin, spokesperson of China's Foreign Ministry Photo: VCG

China firmly opposes US' intention to sign the Holding Foreign
Companies Accountable Act into law, which will contain clauses that clearly work against Chinese companies, in spite of the active efforts of the Chinese regulatory authorities and the US to carry out auditing and supervision cooperation, Chinese Foreign Ministry spokesman Wang Wenbin said on Monday.

The US move is completely unreasonable political suppression of Chinese listed companies, and severely hinders the normal listing of Chinese companies in the US, which will deprive American investors and the public of the opportunity to share the development dividends of Chinese companies, and will also weaken the confidence of global investors in the US capital market, Wang said.

China has urged the US not to implement China-related discriminatory provisions written in the act, and to stop the wrong practice of politicizing securities supervision, and to jointly promote the cooperation in audit supervision between the two countries on the basis of mutual assistance by the regulatory authorities, Wang said. He adds the US should provide a fair, just, and non-discriminatory regulatory environment for the listing of companies from all countries.

Global Times

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