American Senate approves law to prevent Chinese companies from selling their shares on American stock exchanges
The. American Senate has passed a law which will prevent Chinese companies from selling their shares on American stock exchanges.
Foreign companies need to pass through auditing procedures and obey financial regulations. After this measure passed from the Senate, it now has to go before the US House of Representatives before the law is signed by the American President Donald Trump.
This is further proof of the tension which exists between China and the US after Trump accused China that it was controlling the WHO and accused it of lying about its statistics.
The new law is also expected to reveal whether companies on American stock exchanges are foreign-owned or else are controlled by foreign Governments.