US takes new step on delisting Chinese companies from stock exchanges for audit violations

US takes new step on delisting Chinese companies from stock exchanges for audit violations

The audit requirement, established in 2002, has been applicable to all foreign companies that seek to issue public stocks in the US. According to the SEC, China and Hong Kong are the only country or territory that house companies refusing to abide by the rules.

Really?!

Donald Trump signs order banning transactions with 8 Chinese apps, including Alipay

Donald Trump signs order banning transactions with 8 Chinese apps, including Alipay

On a call with reporters shortly after the order was announced, senior administration officials declined to offer any specific evidence tying the blacklisted entities with alleged efforts by the Chinese government to obtain users’ personal data.

“The executive order is based on risk,” said one senior administration official, citing the large user base and high download numbers of the targeted applications. “We’re talking tens of millions of devices.”