SCMP: Chinese firms flood US markets for capital ahead of moves to tighten regulations, and before presidential election
Mon October, 2020, Age: 3 years
The South China Morning Post reports that the total market capitalization for Chinese companies on US exchanges has nearly doubled over the past year, reaching a high of $2.2 trillion. This increase comes even as the Trump administration has declared its intent to decouple from China, and has sought to enact crippling bans on Chinese companies such as Huawei, TikTok, Wechat, and most recently SMIC. The Holding Foreign Companies Accountable Act, legislation intended to disqualify Chinese companies from listing shares on US exchanges, is currently pending in the U.S. House of Representatives.