Trump announces probe of Chinese companies listed in US

US President Donald Trump said his administration would be looking into the practices of Chinese comapnies listed on US exchanges, of which there are around 156. WASHINGTON: US President Donald Trump on Friday ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world's two biggest economies.

"Investment firms should not be subjecting clients to the hidden and undue risks associated with financing Chinese companies that do not play by the same rules. Americans are entitled to fairness and transparency," he added. As of February 2019, 156 Chinese companies with a market capitalisation of US$1.2 trillion were listed on US markets, at least 11 of which were state-owned, according to the Congressionally-mandated US-China Economic and Security Review Commission.

Among the largest were e-commerce giant Alibaba, China's largest oil producer PetroChina and Sinopec, the world's largest oil refiner.Starbucks competitor Luckin Coffee debuted on Nasdaq last year with a market value of about US$4 billion, but was asked to de-listed earlier this month after a massive fraud scandal.

The announcement of the review came as Trump said he would be suspending the entry of certain Chinese citizens and reviewing US relations with Hong Kong, which saw seven months of huge and sometimes-violent pro-democracy protests last year.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pompeo says Trump to act on Chinese studentsThe United States will take action to prevent alleged espionage by Chinese students, Secretary of State Mike Pompeo said Thursday, ahead of an ... Sounds like what a big bully will do Is hard to choose who is worst, Pompeo or Trump?!? Shxt head!!!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US states sue Trump administration over fuel efficiency rollbackA group of 23 U.S. states led by California, the District of Columbia and some major cities are challenging a Trump administration decision to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US bill to pressure China over Uighur rights goes to Trump for decisionWASHINGTON: The US House of Representatives overwhelmingly approved legislation on Wednesday (May 27) calling for sanctions on Chinese officials ... Why dont trump be the president if China, since he is so concerned abt China affairs and he will lose 2020 election? US bombs the Ummah to protect the Ummah
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Bid to extend US surveillance tools stalls after Trump threatens vetoAn effort to extend parts of the Foreign Intelligence Surveillance Act (FISA) stalled in the U.S. Congress on Wednesday, after President Donald ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US business to Trump: Go slowly on Hong Kong responseBusiness groups are urging U.S. President Donald Trump to go slowly in responding to Bejing's planned imposition of new national security laws on ... FAKE NEWS.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Trump marks 100,000 US coronavirus deaths milestone on TwitterU.S. President Donald Trump marked the coronavirus pandemic milestone of 100,000 U.S. deaths in a Twitter post on Thursday, a day after the ... He wants badge of honor Congrats to you. 👏👏👏 arrogance fellow Indelible black mark for Trump ! Milestone ? More like tombstone for him.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »