Senate Passes Bill to Delist Chinese Companies From Exchanges [Yahoo! Finance News]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
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Source: Yahoo! Finance News
Bloomberg) -- The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.The bill, introduced by Senator John Kennedy, a Republican from Louisiana, and Chris Van Hollen, a Democrat from Maryland, was approved by unanimous consent and would require companies to certify that they are not under the control of a foreign government.If a company can’t show that it is not under such control or the Public Company Accounting Oversight Board isn’t able to audit the company for three consecutive years to determine that it is not under the control of a foreign government, the company’s securities would be banned from the exchanges.“I do not want to get into a new Cold War,” Kennedy said on the Senate floor, adding that he wants “China to play by the rules.”So far, no companion measure has
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BIDU
News
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BIDU
Earnings
- 2/28/24 - Beat
BIDU
Sec Filings
- 4/12/24 - Form 6-K
- 4/2/24 - Form 144
- 3/18/24 - Form 6-K
- BIDU's page on the SEC website