America's Minister of Finance, Steven Mnuchin has confirmed on Monday that companies from China and other countries will not be excluded until the end of 2021 from the American stock exchange if you comply with the same accounting Standards as American companies. The Finance Minister said, according to the American media in the Wake of a press conference in the White house, said he expected that the SEC will implement these measures.
Mnuchin and other representatives of the Trump government had proposed to the SEC in the past week. Superficially, it is about uniform rules for company accounts and their audit so that investors have a view on Chinese companies to the same transparency. The background is likely to be the General intensification of the conflict between America and China.
With the help of five recommendations
So, Trump has been busy recently in the United States, the popular Chinese social network Tiktok with a ban and sanctions against Chinese companies, such as the network equipment supplier Huawei to adopt. Last week, Minister of Finance, Mnuchin had in a Twitter message on 6. August paper published by the American President's working group pointed out, the Chairman of the Mnuchin himself.
According to the paper, the government wants to protect investors on the us markets from risks from investments in Chinese companies, which will be implemented with the help of five recommendations. The Problem is that China grant the international auditing company has no access to the documents of Chinese companies, on examining the national auditor's documents. One of the American demands that China abolish the Blockade.
This requirement is, however, not only to China but also to other countries, which allow no control over the business and examination of documents in America, listed company. The paper calls for a transitional period until 1. January 2022. The companies concerned can decide for themselves whether they comply with the required rules or the American stock exchange to leave.Updated Date: 11 August 2020, 08:19