Senate Passes Bill to Delist Chinese Companies from Exchanges

This doesn’t affect just Chinese companies; it applies to any company controlled by a foreign government. So the title isn’t fully accurate.

The bill is very short, but here’s the relevant section (§2B):

> (B) require each covered issuer identified under subparagraph (A) to, in accordance with the rules issued by the Commission under paragraph (4), submit to the Commission documentation that establishes that the covered issuer is not owned or controlled by a governmental entity in the foreign jurisdiction described in subparagraph (A)(i).

Maybe it’s just me, but this is very vague. What about US based subsidiaries? I do also find it peculiar how it explicitly mentions “foreign jurisdiction”; which means companies doing the business of the NSA are exempt.

For those wanting to read the bill, it’s S.945: https://www.congress.gov/bill/116th-congress/senate-bill/945...

If a company is dual listed on us and Chinese exchange, can you trade / transfer your shares from one exchange to the other?

I imagine it’s difficult, but possible. Does anyone have any experience doing so?

I have some tiny stake in some Chinese railroads listed on NY exchange. Not only it got decimated due to COVID, but now I will be forced to sell because of this? Bummer. :D