“We are working very hard to resolve the issue with US counterparts,” Shen Bing, director general of the international affairs department of the China Securities Regulatory Commission, said Thursday. Communication between the authorities is currently running smoothly and openly. Nevertheless, there is a risk that the companies will forcibly disappear from the course list. “But we are working very hard to prevent this from happening.”
The US Securities and Exchange Commission is driving a project by former US President Donald Trump. A law signed by him provides for the compulsory removal of foreign companies from the US stock exchange if they do not meet certain requirements. According to the regulations published by the SEC, companies must prove, among other things, that they are not controlled by a foreign government. How the information from the companies will be checked and the trade in the papers stopped has not yet been finally decided. The Trump law is aimed primarily against Chinese companies.
At the beginning of the year, the New York Stock Exchange initiated the removal of three Chinese telecom companies from the price list – China Telecom, China Mobile and China Unicom.