There are 217 Chinese companies listed in the United States worth a combined $2.2 trillion, the U.S.-China Economic and Security Review Commission said in early October.
HONG KONG: The rush by U.S-listed Chinese companies to secure a secondary listing in Hong Kong or China is only set to intensify as the United States readies a new law allowing it to kick firms off its exchanges if they do not comply with U.S. auditing rules.
The "Holding Foreign Companies Accountable Act" is expected to be soon signed into law by U.S. President Donald Trump after it was passed by the U.S. House of Representatives on Wednesday. It stipulates that failure to comply with the U.S. Public Accounting Oversight Board's audits for three years in a row, will mean a U.S. delisting.
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