The House passed Bill S.495 The Holding Foreign Companies Accountable Act, which will require US regulators to review the audit books of US-listed Chinese companies or face delisting if they do not come into compliance within three years. While headlines around this bill have emphasized the potential delisting component, they have not highlighted the substantial progress the SEC has made in providing a framework for resolving the issue.
US-listings of major Chinese internet companies came under pressure when the bill passed in the senate on May 20th, but quickly reversed course. The CSI Overseas China Internet Index has returned +42% since the senate passage. READ MORE
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