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Trump expected to sign bill that could delist Chinese companies: White House

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US President Donald Trump is expected to sign a bill that could prevent some Chinese companies from listing their shares on US exchanges unless they adhere to US auditing standards, the White House said on Wednesday.

[WASHINGTON] US President Donald Trump is expected to sign a bill that could prevent some Chinese companies from listing their shares on US exchanges unless they adhere to US auditing standards, the White House said on Wednesday.

The bill, which passed the Senate earlier this year and was approved by the House of Representatives on Wednesday, could hit companies such as Alibaba, tech firm Pinduoduo and oil giant PetroChina.

If signed into law, the measure would give Chinese companies listed on US exchanges three years to comply with US auditing rules before being removed from US markets.

REUTERS

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