Brace for a $600 bln Chinese escape from New York – Reuters

Brace for a $600 bln Chinese escape from New York – Reuters

HONG KONG, Dec 22 (Reuters Breakingviews) - The party’s over for Chinese companies in New York. They’re being squeezed by lawmakers in both Beijing and Washington over data protection, accounting oversight plus other crackdowns and political spats. New U.S. rules that would usher out lingerers won’t apply for two years, but waiting until the last minute only will make leaving harder.

New American laws will force companies to delist read more if their audit papers can’t be reviewed by U.S. bean-counter watchdogs. Assume no change in China’s reluctance to clear the way, and some 270 enterprises are in danger of getting the boot in 2024.