CNBC: Bill to delist Chinese stocks moving at ‘warp speed’ as a crackdown gains bipartisan support
A bill that could force Chinese companies to give up their listings on American stock exchanges is now moving at “warp speed” after the U.S. Senate passed the legislation on Wednesday, Raymond James told its clients Thursday morning.
Though a vote has not been scheduled yet in the House of Representatives, the fact that the Holding Foreign Companies Accountable Act cleared the Senate via unanimous consent signals both the widespread mistrust of China on Capitol Hill as well as the likelihood of its becoming law before long, wrote Washington policy analyst Ed Mills.
“We believe there will be a significant push for the legislation to be taken up in the coming weeks, and we believe it is only a matter of time before this bill (or something similar) is signed into law,” Mills wrote.