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Stocks, Yuan Tick Lower As Senate Passes Bill That Could Force De-Listing Of Chinese Companies

Courtesy of ZeroHedge View original post here.

The CCP's leaders including President Xi are probably dedicating massive intelligence resources to try and discern how much of the White House's belligerent rhetoric toward China is just that – talk – and how much represents serious plans for action.

Well, after President Trump raised the prospect of de-listing Chinese companies from US exchanges last week (around the time that Carson Block unveiled his latest bet against a "fraudulent" Chinese Co. trading in the US) – which prompted Beijing to threaten to move its IPOs to London, the Senate on Wednesday voted on a new bill that would intensify scrutiny of the

  • SENATE PASSES BILL AIMED AT BOOSTING OVERSIGHT OF CHINESE COS.
  • SENATE PASSES BILL AIMED AT BOOSTING OVERSIGHT OF CHINESE COS, BILL COULD REQUIRE CHINESE COS. TO DELIST FROM U.S. EXCHANGES, AND ALSO BILL WOULD REQUIRE COS. TO CERTIFY NO FOREIGN GOVT. CONTROL
  • BILL WOULD REQUIRE COS. TO CERTIFY NO FOREIGN GOVT. CONTROL

The bill comes as Washington moves to cut off Chinese telecoms giant Huawei from using US-made parts and technology. Stocks and the yuan both declined slightly on the news…

…as it adds even more credence to the "economic decoupling" narrative.

We imagine we'll be hearing from Beijing shortly.


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