China on Thursday urged the US to stop discriminatory actions against Chinese firms after the US securities regulator adopted a new measure that would delist foreign companies from US stock exchanges if they don’t follow the US auditing standards.
“We urge the US to stop politicalizing the securities regulations and its discriminatory actions again Chinese enterprises, and provide a fair and just business environment for global companies,” Hua Chunying, a spokesperson from China’s Foreign Ministry, said Thursday.
The top US securities regulator on Wednesday adopted the new rule that would kick foreign companies off US stock exchanges if they do not comply with the US auditing standards, and require them to disclose links with the government, Reuters reported.
“The US have previously adopted the so-called Holding Foreign Companies Accountable Act that contains terms that are obviously discriminatory to Chinese companies, which is a gratuitous political crackdown on US-listed Chinese companies,” Hua said.
The move “distorts the basic principles of the market economy that the United States has always flagged,” Hua said, adding that the new measure is another discriminatory move, and China strongly oppose it.”
Chinese Foreign Ministry spokesperson Hua Chunying. Photo: VCG
