WASHINGTON – The U.S. House of Representatives is expected to pass legislation this week that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they adhere to U.S. auditing standards, congressional aides said on Tuesday.
The House is scheduled to vote on Wednesday evening on “The Holding Foreign Companies Accountable Act,” which bars securities of foreign companies from being listed on any U.S. exchange if it has failed to comply with the U.S. Public Accounting Oversight Board’s audits for three years in a row.
Aides said there is bipartisan backing for the measure. Measures taking a harder line on Chinese business and trade practices gener…
Keep on reading: U.S. House seen backing bill that could block Chinese firms from US securities markets