Business Standard

Sunday, December 22, 2024 | 12:29 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Trump memo asks US exchanges to protect investors from Chinese firms

"For decades, Chinese companies have availed themselves of the benefits of US financial markets, and capital raised in the US has helped fuel China's rapid economic growth," Trump said

President Donald Trump stops to speaks with reporters on the South Lawn of the White House as he returns to the White House on Marine One in Washington. Photo: PTI
Premium

Recently, the Chinese government enacted a statute that expressly prevents audit firms from providing transparency without the prior consent of Chinese financial regulators, Trump said.

BS Web TeamAgencies Washington
President Donald Trump on Thursday said that it is wrong and dangerous for China to benefit from US capital markets without complying with critical protections that investors rightfully deserve. He issued a memorandum to protect American investors from Chinese companies.

"For decades, Chinese companies have availed themselves of the benefits of US financial markets, and capital raised in the US has helped fuel China's rapid economic growth," Trump said.

The memorandum was issued to Secretary of State Mike Pompeo and other members of the top national security leadership.

"While China reaps advantages from US markets, the Chinese government has consistently

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in