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Chinese firms that do not meet U.S. standards to be delisted as of end-2021

imageStock Markets38 minutes ago (Aug 10, 2020 07:05PM ET)

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(C) Reuters. A woman wearing protective face mask walks at Lujiazui financial district on the opening day of the National People’s Congress (NPC), in Pudong, Shanghai

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WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.

Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies.

“As of the end of next year … they all have to comply with the same exact accounting, where they will be listed on the exchanges,” Mnuchin said during a White House briefing.

Chinese firms that do not meet U.S. standards to be delisted as of end-2021

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