Utopia Talk - Politics - Chinese companies leaves the USA

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Utopia Talk / Politics / Chinese companies leaves the USA

Paramount
rank Fri Aug 12 22:37:05 2022
*BREAKING* 4 SOEs of China, including PetroChina, China Life Insurance, Sinopec, and Aluminum Corporation of China, have all announced to exit from New York Stock Exchange today.

http://twi...?s=21&t=qXJkKWSpjajqXCvI_TIy-A

What could this mean?

And what does SOE mean?

nhill
rank Fri Aug 12 22:39:43 2022
This has been in the works for a long time. Many Chinese companies are moving to hong kong exchange out of fear of being delisted due to new regulations that require them to open their books.

Apparently Chinese companies would rather reduce the market exposure for their shares than comply with opening their books.

Good riddance. Most these companies are scammers anyways, as proven by their "Starbucks killer" company that fabricated their sales numbers.

Dirty Chinese companies can't help but cheat, so they are moving to where that is accepted: Hong Kong.

nhill
rank Fri Aug 12 22:41:41 2022
http://www.sec.gov/news/press-release/2020-319

^you can thank Luckin Coffee for this :)

Paramount
rank Fri Aug 12 23:07:23 2022
So it is not because Chinese companies no longer sees the USA as a secure place to invest?

murder
rank Fri Aug 12 23:08:53 2022

"And what does SOE mean?"

state owned enterprise

nhill
rank Fri Aug 12 23:09:09 2022
It's specifically because they want to move off NYSE before new regulations require them to be more transparent about their finances in 2023/24.

nhill
rank Fri Aug 12 23:13:28 2022
The law was passed in 2020 and results in delisting if Chinese companies don't comply for 3 years in a row.

Very few have complied. We'll see a mass exodus in 2023, this is only the beginning.

nhill
rank Fri Aug 12 23:14:14 2022
http://www...c-8358-20aa16355fb4_story.html

More details here.

nhill
rank Fri Aug 12 23:19:15 2022
>Chinese companies no longer sees the USA as a secure place to invest?

Funnily enough, it's the exact opposite. Chinese are on their hands and knees begging for the USA to let them stay. We have the best capital markets in the world, this will obviously hurt China quite a bit.

So far, we've told them to open the books or fuck off. Let them beg.

nhill
rank Fri Aug 12 23:22:24 2022
Also, Chinese companies don't want to invest here. They want to list their shares here because we have the most money. :p

But they appears to be tucking their tail and running to the cheap knockoff of NYSE, the Hong Kong exchange.

Delicious irony. :)

show deleted posts

Paramount rank	Fri Aug 12 22:37:05 2022 BREAKING 4 SOEs of China, including PetroChina, China Life Insurance, Sinopec, and Aluminum Corporation of China, have all announced to exit from New York Stock Exchange today. http://twi...?s=21&t=qXJkKWSpjajqXCvI_TIy-A What could this mean? And what does SOE mean?
nhill rank	Fri Aug 12 22:39:43 2022 This has been in the works for a long time. Many Chinese companies are moving to hong kong exchange out of fear of being delisted due to new regulations that require them to open their books. Apparently Chinese companies would rather reduce the market exposure for their shares than comply with opening their books. Good riddance. Most these companies are scammers anyways, as proven by their "Starbucks killer" company that fabricated their sales numbers. Dirty Chinese companies can't help but cheat, so they are moving to where that is accepted: Hong Kong.
nhill rank	Fri Aug 12 22:41:41 2022 http://www.sec.gov/news/press-release/2020-319 ^you can thank Luckin Coffee for this :)
Paramount rank	Fri Aug 12 23:07:23 2022 So it is not because Chinese companies no longer sees the USA as a secure place to invest?
murder rank	Fri Aug 12 23:08:53 2022 "And what does SOE mean?" state owned enterprise
nhill rank	Fri Aug 12 23:09:09 2022 It's specifically because they want to move off NYSE before new regulations require them to be more transparent about their finances in 2023/24.
nhill rank	Fri Aug 12 23:13:28 2022 The law was passed in 2020 and results in delisting if Chinese companies don't comply for 3 years in a row. Very few have complied. We'll see a mass exodus in 2023, this is only the beginning.
nhill rank	Fri Aug 12 23:14:14 2022 http://www...c-8358-20aa16355fb4_story.html More details here.
nhill rank	Fri Aug 12 23:19:15 2022 >Chinese companies no longer sees the USA as a secure place to invest? Funnily enough, it's the exact opposite. Chinese are on their hands and knees begging for the USA to let them stay. We have the best capital markets in the world, this will obviously hurt China quite a bit. So far, we've told them to open the books or fuck off. Let them beg.
nhill rank	Fri Aug 12 23:22:24 2022 Also, Chinese companies don't want to invest here. They want to list their shares here because we have the most money. :p But they appears to be tucking their tail and running to the cheap knockoff of NYSE, the Hong Kong exchange. Delicious irony. :)
	show deleted posts

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