US Senate passes bill to boost oversight and delist Chinese companies from exchanges

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The US Senate passed legislation on Wednesday that could disqualify many Chinese companies from listing shares on US stock exchanges without adhering to the security laws and auditing regulations.The legislation, which was supported by lawmakers of both parties and was passed without objection, requires companies seeking access to US stock markets to establish that “they are not owned or controlled by a foreign government”.The bill also asks foreign companies to submit audits for inspection by…

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