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The closer the term ends, the more sanctions US President Donald Trump has enacted against China, especially in economic terms. On February 18, 2020, the US President passed a bill that would prohibit Chinese companies from listing prices on the US stock market if they fail to comply with US audit rules.
According to the US news agency Bloomberg, Chinese companies could be banned from listing in the US if US regulators cannot verify their financial statements. The recently ratified bill could affect Chinese conglomerates such as Alibaba and Baidu.
The above bill applies to all foreign companies regardless of nationality, but observers believe that the main target is Chinese corporations.
The importance of this is even more evident when yesterday, the Trump administration added dozens of Chinese companies, large and small, to the blacklist of the United States Department of Commerce.
These companies, including chipmaker giant SMIC, will be deprived of access to US technology and will no longer be able to benefit from US capital. On the Chinese side, the government condemns the unreasonable sanctions.
Correspondent Stéphane Lagarde in Beijing gave more details
These latest measures by the Trump administration are worrying Beijing, and through a State Department spokesman, China yesterday afternoon condemned what it called an “irrational crackdown.” Chinese companies.
The White House is swirling again at the sore spot: the high-tech sector, crucial to the growth of the world’s second-largest economy.
After Hua Vi and ZTE, now SMIC is allegedly linked by Washington to the Chinese military. The Chinese semiconductor industry champion denied the charges when he was added to the US Department of Defense blacklist last month, banning US investors from buying shares in the corporation.
This time SMIC was included in the restricted list of the Ministry of Commerce. Besides SMIC, there may be dozens of other Chinese companies, according to Reuters sources.
However, American threats were rarely mentioned on the evening news in China. State media prefer to mention the closing session of the Central Conference on Economic Work or the progress made in the China-EU trade negotiations.
However, if Washington carries out these threats, Beijing promises it will take action. retaliation.
