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Forcing Chinese companies off United States exchanges will harm US interests – Beijing

Forcing Chinese companies off United States exchanges will harm US interests – Beijing

Beijing said on Friday that forcing Chinese firms to retreat from Unites States stock exchanges would severely harm US interests.

Foreign Ministry spokesman Geng Shuang also accused Washington of making “hasty generalizations” about China-based companies’ accounting practices, Reuters reported.

The spokesman made the comments when asked about remarks by US Secretary of State Mike Pompeo warning American investors about alleged fraudulent accounting practices of China-based firms.

President Donald Trump issued a memorandum on Thursday calling for recommendations to be issued within two months to protect US investors from what he said was Beijing’s failure to allow audits of US-listed Chinese companies.