Making Chinese firms exit US market would backfire – Beijing
China’s foreign ministry spokesman Geng Shuang said on Friday that urging Chinese companies out of the United States stock exchanges would critically damage American interests.
He went on to accuse Washington of generalizing Chinese companies’ accounting practices after the US Secretary of State Mike Pompeo stated that some Chinese firms have been utilizing “fraudulent’ accounting practices” while doing business in the US.
Nasdaq Stock Market on Thursday urged all listed companies to comply with the international auditing and inspection rules.
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