Listing in the US is now very dangerous for all foreign companies. Sooner or later the US will make excuses for stealing user data and customers lists from all foreign companies listed in the US.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
All Chinese companies should be forced to delist from US Stock Exchanges and return to HK or Shanghai
I suppose this is similar to what the US government is demanding all the major semiconductor companies in the world to turn over their data on sales, inventory and customers. The goal is potential targeted sanction of selected suppliers and visibility and control of the semiconductor supply chain, all in the name of dealing with chip shortage. How nice!
I thought they made that request to TSMC and Samsung recently and yet Samsung is not listed on the NYSE.
I think this is a non starter
"As a first step in the new rule, the agency will identify companies that may not be in compliance with the audit inspection requirements. Once a company is classified by the SEC as a “commission-identified issuer,” it’ll have to submit documentation proving it’s not owned or controlled by a government.
Firms will also have to specify in their annual reports additional information about the operating company and any shell companies used to trade, including:
The percentage of shares that are owned by a government entity
Whether government entities have a controlling financial interest
The name of each member of the Chinese Communist Party who sits on the board
The SEC rule lays out the process for imposing an initial trading ban on firms after three years of non-compliance, as required by the 2020 law"
20 law.
"As a first step in the new rule, the agency will identify companies that may not be in compliance with the audit inspection requirements. Once a company is classified by the SEC as a “commission-identified issuer,” it’ll have to submit documentation proving it’s not owned or controlled by a government.
Firms will also have to specify in their annual reports additional information about the operating company and any shell companies used to trade, including:
The percentage of shares that are owned by a government entity
Whether government entities have a controlling financial interest
The name of each member of the Chinese Communist Party who sits on the board
The SEC rule lays out the process for imposing an initial trading ban on firms after three years of non-compliance, as required by the 2020 law"
20 law.
Thank you all for this thread
The truth is that I do not know what to think, on the one hand the crash is being appalling, on the other hand the price difference between Shanghai, Shenzhen and New York in some cases is 10 x, in some cases companies of 2 billion Market Capitalization in New York are worth 20 billion in Shanghai, so some have left New York to Shanghai because why be in a place that does not want you. But I do not have access to Shanghai
the case of Daqo New Energy is funny: the little piece that is listed in Shanghai is worth much more than the bulk of the company that is listed in New York