Senate overwhelmingly approves bill to delist certain Chinese companies. Here’s who it could affect

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The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

The bill, introduced by Senator John Kennedy, a Republican from Louisiana, and Chris Van Hollen, a Democrat from Maryland, was approved by unanimous consent and would require companies to certify that they are not under the control of a foreign government.

If a company can’t show that it is not under such control or the Public Company Accounting Oversight Board isn’t

Read more    Source: fortune.com

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