U.S President Donald Trump is expected to sign a bill that could delist some Chinese companies on U.S. exchanges unless they adhere to U.S. auditing standards, the White House said yesterday.
The bill, which was passed in the Senate earlier this year and was approved by the House of Representatives yesterday, could hit companies such as Alibaba, tech firm Pinduoduo Inc and oil giant PetroChina Co Ltd.
If signed into law, the measure would give Chinese companies listed on U.S. exchanges three years to comply with U.S. auditing rules before being removed from U.S. markets.
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