(FILES) This file photo taken on October 30, 2020 shows the logo of the Alibaba Group outside the offices of the Ant Group, the financial arm of the Chinese e-commerce giant, in Hong Kong. – Chinese regulators have launched an investigation into Alibaba Group for “suspected monopolistic practices”, the State Administration for Market Regulation said on December 24, 2020. (Photo by Anthony WALLACE / AFP)
In the last days of his presidential term in the US, Donald Trump is sparing no moment to cut China to size. He has signed a bill that could lead to the delisting of Chinese companies like Alibaba Group Holding Ltd, Baidu, Pinduoduo, PetroChina and others from US exchanges.
Investors on U.S. stock exchanges deserve not only independent audits, but oversight of the auditors.
Pedestrians walk past Exchange Square in Hong Kong, Nov. 4. Photo: jerome favre/Shutterstock Dec. 28, 2020 11:45 am ET
The American Securities Association shares the editorial board’s concern regarding the growth of the administrative state and the suffocating effect needless bureaucracy can have on economic growth. But your editorial “Congress Punts on China Stocks” (Dec. 16) misses the mark on the Holding Foreign Companies Accountable Act, a bill that passed both chambers of Congress unanimously despite a multimillion dollar lobbying campaign against it from Wall Street.
The narrative that money will flow to Chinese companies regardless of this bill rings hollow. Money managers are subject to a fiduciary obligation that prevents them from investing in companies they can’t perform due diligence on, such as those controlled by the Chinese
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On December 18, 2020, President Trump signed the Holding Foreign Companies Accountable Act (HFCAA) into law. Later that day, US Securities and Exchange Commission (SEC) Chairman Jay Clayton published a statement providing an update on a planned SEC rulemaking in light of the enactment of the HFCAA. Noting the significant overlap between the HFCAA and the planned SEC rulemaking, Chairman Clayton has directedthe staff to revise the near-final rule proposal to incorporate the congressional mandate.
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December 22, 2020President Trump Signs the HFCAA into Law Prompting SEC to Change Course On December 18, 2020, President Trump signed the Holding Foreign Companies Accountable Act (HFCAA) into law. Later that day, US Securities and Exchange Commission (SEC) Chairman Jay Clayton published a statement providing an update on a planned SEC rulemaking in light of the enactment of
Interpreting Beijing’s 2020 Central Economic Work Conference offers hints of the path ahead.
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December 23, 2020
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China’s annual Central Economic Work Conference (CEWC), where the economic priorities and policy frameworks for the coming year are laid out, concluded on December 18. The CEWC is widely acknowledged as the country’s highest-level meeting on the domestic economy and its financial and banking sectors. It is essential to digest the statement released by the party to examine the achievements made so far and to predict the country’s economic trajectory in 2021, particularly given that 2020 was an unprecedentedly tumultuous year.
This year’s CEWC set the theme and proposed eight tasks for 2021. This article concentrates on three core points.
Posted : 2020-12-22 15:40
Updated : 2020-12-22 17:12
US-China trade frictions and lingering Covid-19 fallout put sentiment in check in an otherwise bullish quarter for global stock market. South China Morning Post
By Iris Ouyang
Hong Kong stocks fell by the most in two weeks as frictions between the US and China escalated with more Chinese companies put on a trade blacklist and the coronavirus pandemic worsened in Europe.
The Hang Seng Index slipped 0.7 per cent to 26,306.68, trimming the advance this quarter to 12.1 per cent. Benchmarks in the UK fell by more than 1 per cent while stocks in Europe retreated by 2 per cent in early trading and futures on US equities signalled losses in cash markets.