October 4, 2022

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The US targets 80 more Chinese companies listed on Wall Street

A month ago, China’s first real meltdown occurred, with the announcement of the possibility that officials at American Sec would open the books of the major tech companies of Dragon listed in New York, under penalty of forcible delisting. But Washington raises standards and puts dozens of other companies on a list of those who must abide by US transparency standards

To believe that only a month ago, China showed the first signs of slowing down. Allow US moderators To finally get his nose at the Wall Street-listed Dragon Company. Under penalty of compulsory delisting by 2023 at the latest. As is known, at the end of his term, Trump launched pressure on Chinese technology companies listed on the US stock exchange that refused to open their books to allow US officials to check for any national security risks.

Anyone who continued to resist would have been eliminated from the lists of stars and tapes within a few months. The strength test obviously succeeded, given that in early April, after another Either or By SEC, US Consob, Beijing sold, Prefer to comply with Washington’s request Instead of mobilizing and giving up US funding, especially now The smell of sanctions against Russia is getting stronger, as well as in the People’s Republic. However, someone at the top of the SEC must have been very dissatisfied.

Other than that, how do you explain the fact that US regulators recently added more than 80 companies, including JD.com Inc. and Pinduoduo and Bilibili, to the list of already large Chinese companies (about 270 companies in the tech sector, including Alibaba) listed on Wall Street in the stench of poor transparency. Thus, as Bloomberg revealed, the list is expanding, with the addition of other companies who have at most one year to comply with inspection requirements. Among the new entrants, there are also companies that are not necessarily related to the technology sector, such as China Petroleum & Chemical Corp., JinkoSolar Holding, NetEase and Nio.

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Chinese authorities are preparing to give US regulators full access to the balance sheets of listed US companies. And that some form of cooperation on the part of Dragon was also demonstrated by a note from JD.com itself. which “will attempt to maintain its management in the United States. The Company will continue to comply with the laws and regulations applicable in both China and the United States, and will strive to maintain its position in both the Nasdaq and Hong Kong.”

Also because Beijing certainly can’t stand the scramble of its companies from the major global financial hub. Not at this moment, at least, when the specter of sanctions extends to Russia-allied China as well. As told by this magazine Indeed, the Dragon certainly could not allow its banks to be expelled from Western circles overnight, as was the case with the former Soviet Union.

This punishment could very well be met if the conflict in Ukraine expanded and China decided to blatantly support Russia. And then, there’s the domino effect. The crisis of Russian enterprises, which has long been closely associated with Chinese enterprises He is now forced to unite Large-scale capital to avoid chain failure, sooner or later can spread to the Chinese.