Continued consequences of Pelosi’s trip to Taiwan; Simultaneous withdrawal of 5 large Chinese companies from the American market
According to IRNA’s report on Saturday from “Global Times” newspaper, the announcement of the withdrawal of 5 Chinese companies from the list of US regulatory stocks took place in the midst of increasing tensions between the two countries and the constant strictures of the US on all Chinese companies as what it calls “financial separation”.
Minutes after the Chinese companies released the statements, the China Securities Regulatory Commission (CSRC), which is the country’s top stock watchdog, issued a statement emphasizing that the decisions made by the Chinese companies were made without taking into account commercial considerations. It will maintain its relationship with relevant foreign regulatory agencies to jointly protect the legitimate and legal rights and interests of companies and investors.
Based on this report, American and Chinese supervisors have already discussed the inspection rules of Chinese companies in the US regulatory stock list.
Despite this, experts believe that due to the relative smallness of the issues of US regulatory stocks, leaving the list will have a limited impact on the companies’ operations. Analysts also believe that, in any case, the wave of these statements, which shows that this trend is increasing, indicates the deterioration of the conditions of the American market due to the relentless and continuous stricture of the American government on Chinese companies.
In this way, the “China Petro” group of companies, one of the Chinese energy giants, announced in a statement published yesterday to the New York Stock Exchange that it will voluntarily withdraw from the list of US regulatory stocks. The company added that it would like to file a case with the US Securities and Exchange Commission on August 29 (7 September) and thus be removed from the list within 10 days. The company cited several reasons for this decision, including that the company faced “significant enforcement hurdles” to implement regulatory clarifications and commitments to remain on the US regulatory stock list.
In addition, 4 other companies also announced their withdrawal from the US regulatory stock list with similar statements.
Experts believe that the announcement of simultaneous withdrawal of Chinese companies from the American market in one day can lead to an impact all over the world with a great impact on the American financial sector. Analysts also called on the two countries to find a solution to the dispute by strengthening ties, and US regulators should think about long-term consequences rather than short-term approaches to China, as financial separation as it is happening is damaging to both markets. The country will suffer losses. About 250 Chinese companies are directly or indirectly on the US regulatory stock list.
In recent days, apart from the efforts for financial separation, a series of provocative actions have been taken by the US against China, which will ultimately lead to increasing tensions and darkening the relations between the two countries.