YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The ban would target Chinese entities seeking to list in the U.S. through shell companies set up in other countries.
China plans to impose new rules to prohibit certain tech companies with large amounts of sensitive user data from listing, while those companies with less sensitive data, like pharmaceuticals, would still be permitted to list abroad.
U.S. Securities and Exchange Commission Chairman Gary Gensler recently warned that investors may be unaware of the risks associated with U.S.-listed Chinese stocks, which often are based in the Caymans or another part of the world.
Many Chinese tech giants, including Alibaba, Tencent and Didi Global, use variable interest entities to sell shares abroad. VIEs are usually incorporated outside of China but are based in tax havens like the Caymans.
The SEC froze U.S. listings of Chinese companies in late July after Gensler asked SEC staff to demand businesses disclose whether investor money is being directed to shell companies.
Read more from The Wall Street Journal.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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Awesome. We need to divest China and kick the communists out of America and take ALL our industry out of China. Im 63. At what point did Communists become “good” partners? why do we do business with murderous evil countries? For the life of me I don’t know what over educated fools thought it would be AWESOME to let Communists package our food and medicine? Probably the same fools who sent The terrorist nation of Iran 150 billion dollars in the middle of the night! The same fools who just stranded God only knows how many Americans in Afghanistan!? Yep! These democrats care so much about you that you MUST shoot that experimental gene therapy in you or lose your job!! Don’t worry though as the 1 million untested and unvaxed illegals they intentionally flooded the country with will be there to take your spot! AMERICA FIRST!!