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Bill Aims to Kick Harmful Chinese Companies Off US Stock Exchanges

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Bill Aims to Kick Harmful Chinese Companies Off US Stock Exchanges

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Republican lawmakers on March 3 introduced a bill that would block “malign Chinese companies” from being listed on American exchanges and other U.S. capital markets. Under the proposed legislation, Chinese companies, and their subsidiaries and affiliates that are on the Commerce Department’s “entity list” or the Pentagon’s list of companies “owned or controlled by” the Chinese military would be barred from tapping into American capital markets, including listing in securities exchanges and being included in indexes. The move would build upon former President Donald Trump’s order banning U.S. investments in Chinese companies on the Pentagon list, which took effect in January. The measure was aimed at blocking American capital from being used to fund the Chinese regime’s military development, jeopardizing U.S. national security. Since the order, indexes providers have removed several Chinese stocks from their indices, and the NYSE has announced the delisting of four Chinese companies. “This is pretty simple: …

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