“For decades, Chinese companies have availed themselves of the benefits of US financial markets, and capital raised in the US has helped fuel China’s rapid economic growth,” Trump said
President Donald Trump on Thursday said that it is wrong and dangerous for China to benefit from US capital markets without complying with critical protections that investors rightfully deserve. He issued a memorandum to protect American investors from Chinese companies.
“For decades, Chinese companies have availed themselves of the benefits of US financial markets, and capital raised in the US has helped fuel China’s rapid economic growth,” Trump said. The memorandum was issued to Secretary of State Mike Pompeo and other members of the top national security leadership. ” While China reaps advantages from US markets, the Chinese government has consistently prevented Chinese companies and companies with significant operations in China from abiding by the investor protections that apply to all companies listing on US stock exchanges,” Trump alleged.
“China’s actions to thwart our transparency laws raise significant risks for investors. The time has come to take firm action in an orderly fashion to put an end to the practice that has tacitly permitted companies with significant Chinese operations to flout protections United States law requires for investors in United States markets,” Trump said…Read More
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