Trading floor of the New York Stock Exchange Credit: Bart Sadowski, Shutterstock
With tensions between the United States and China heating up over the global pandemic, the White House and Congress have recently taken steps that would make it more difficult for Americans to invest in China’s publicly traded companies.
On Wednesday, the United States Senate unanimously passed legislation that would force the delisting of Chinese firms on U.S. exchanges, unless China increases cooperation with U.S. regulators and makes audit documents available. The House has yet to schedule a vote on a similar bill introduced after the Senate measure passed.
And just over a week earlier, under pressure from the Trump Administration, the Federal Retirement Thrift Investment Board, which manages a $600 billion federal retirement fund, said that it would delay plans to shift money into buying shares of Chinese stocks listed in mainland China.
Advocates of delisting Chinese stocks trading in the U.S. say the proposed legislation would protect American investors, a
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