Utopia Talk - Politics - Chinese companies leaves the USA

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Utopia Talk / Politics / Chinese companies leaves the USA

Paramount
Member Fri Aug 12 15:37:05
*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
Member Fri Aug 12 15:39:43
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
Member Fri Aug 12 15:41:41
http://www.sec.gov/news/press-release/2020-319

^you can thank Luckin Coffee for this :)

Paramount
Member Fri Aug 12 16:07:23
So it is not because Chinese companies no longer sees the USA as a secure place to invest?

murder
Member Fri Aug 12 16:08:53

"And what does SOE mean?"

state owned enterprise

nhill
Member Fri Aug 12 16:09:09
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
Member Fri Aug 12 16:13:28
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
Member Fri Aug 12 16:14:14
http://www...c-8358-20aa16355fb4_story.html

More details here.

nhill
Member Fri Aug 12 16:19:15
>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
Member Fri Aug 12 16:22:24
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 Member	Fri Aug 12 15:37:05 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 Member	Fri Aug 12 15:39:43 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 Member	Fri Aug 12 15:41:41 http://www.sec.gov/news/press-release/2020-319 ^you can thank Luckin Coffee for this :)
Paramount Member	Fri Aug 12 16:07:23 So it is not because Chinese companies no longer sees the USA as a secure place to invest?
murder Member	Fri Aug 12 16:08:53 "And what does SOE mean?" state owned enterprise
nhill Member	Fri Aug 12 16:09:09 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 Member	Fri Aug 12 16:13:28 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 Member	Fri Aug 12 16:14:14 http://www...c-8358-20aa16355fb4_story.html More details here.
nhill Member	Fri Aug 12 16:19:15 >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 Member	Fri Aug 12 16:22:24 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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