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Shares of Chinese companies fell in value


				11.03.2022
						

Shares of Chinese high-tech companies fell sharply in price after the U.S. stock exchange regulator named five Chinese companies that may be subject to delisting from U.S. exchanges for failure to comply with financial disclosure requirements.

Before, the Securities and Exchange Commission (SEC) said that HUTCHMED (China) Limited, ACM Research, Zai Lab Limited, Yum China Holdings and BeiGene failed to comply with the provisions of the Holding Foreign Companies Accountable Act (HFCAA) passed in December 2020 and failed to provide US regulators with audit reports for the past three years.

The publication of this statement by the SEC led to a collapse in the quotations of other Chinese companies in the technology sector: shares of Alibaba fell by 8%, electric car manufacturer Nio by 12%, online retailer JD.com by 16% and Tencent by 7%.

China's Securities Regulatory Commission (CSRC) said it is committed to dialogue with its U.S. counterparts on the issue and expressed hope for a successful resolution.

Sources:

https://www.sec.gov/

https://world.huanqiu.com/article/478wNylLXoA

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