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Chinese companies surge to Singapore and Hong Kong stock exchanges amid threat of delisting in the US

Beijing, May 6: After the US Stock Exchange Commission (SEC) added more than 80 Chinese companies facing the possibility of delisting from the US exchange to the list, Chinese electric vehicle (EV) starter Nio A letter from the Stock Exchange of Singapore stating that it received eligibility for a conditional list on Friday.

According to Global Times, Nio is another US-listed Chinese company that has moved to another country under the threat of delisting from the United States. Nio said Singapore-listed shares of the company could be completely replaced by American Depositary Receipts. In a tax audit of Chinese companies such as Oppo, Xiaomi and OnePlus, China is “concerned” about India’s business environment.

With the latest crackdown on Chinese companies, the US SEC has added more than 80 companies to its list this week. These companies may be excluded from US exchanges such as JD.com in China, China Petroleum & Chemical Corp, JinkoSolar, Pinduoduo and Bilibili. Electric manufacturers NIIOnc and NetEase.

To date, more than 128 Chinese companies have been targeted, of which 105 are on the interim list and 23 are on the final list. There are about 200 companies trading in New York with a parent company based in mainland China or Hong Kong. KE Holdings, a New York-listed Chinese real estate platform, said it would also list Hong Kong shares without raising new capital.

According to media reports, the US Securities and Exchange Commission has listed Chinese entities facing delisting under the 2020 Act of Accountability for Foreign Companies.

“We will continue to comply with the laws and regulations that apply in both China and the United States and strive to maintain listing status on both the Nasdaq and the Hong Kong Stock Exchange,” JD.com said.

(The above story was first published on LatestLY at 4:43 pm IST on May 6, 2022. For news and updates on politics, the world, sports, entertainment and lifestyle, please visit our website. Please log on to. latestly.com).

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https://www.latestly.com/business/chinese-firms-rush-to-singapore-hong-kong-bourses-amid-us-delisting-threat-3676359.html Chinese companies surge to Singapore and Hong Kong stock exchanges amid threat of delisting in the US

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