U.S. postpones ban on buying and selling Chinese language shares with alleged navy ties

BEIJING — The U.S. Treasury mentioned Tuesday it was suspending a ban on buying and selling shares of corporations with alleged hyperlinks to the Chinese language navy. The brand new restrictions take impact June 11, versus the prior date of Might 27. The transfer by U.S. President Joe Biden’s administration extends a grace interval for


BEIJING — The U.S. Treasury mentioned Tuesday it was suspending a ban on buying and selling shares of corporations with alleged hyperlinks to the Chinese language navy.

The brand new restrictions take impact June 11, versus the prior date of Might 27.

The transfer by U.S. President Joe Biden’s administration extends a grace interval for traders to adjust to an funding ban first introduced in November beneath former President Donald Trump. Solely a handful of the names, largely state-owned corporations, are traded within the U.S.

Earlier this month, the U.S. agreed to take away Hong Kong-listed Chinese language smartphone maker Xiaomi from the blacklist.

However one other firm on the checklist, telecommunications big China Cellular, mentioned earlier this month it anticipated to delist from the New York Inventory Trade. The corporate subsequently mentioned on Monday it will subject yuan-denominated shares on the Shanghai inventory trade.

Chinese language corporations have rushed to go public within the U.S. within the final 18 months regardless of the political overhang. In late April, a consultant from the New York Inventory Trade mentioned about 60 Chinese language corporations plan to checklist within the U.S. this yr.



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