Trump announces probe of Chinese companies listed in US

Sun Online Desk

30th May, 2020 01:50:15 printer

Trump announces probe of Chinese companies listed in US

 

US President Donald Trump on Friday ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world’s two biggest economies.

The announcement followed Beijing’s move to implement a new security law on semi-autonomous Hong Kong that critics say would stifle freedom, as well as with Trump’s claims that China obfuscated the origins of the coronavirus that has killed more than 100,000 people in the United States, AFP reported.

As of February 2019, 156 Chinese companies with a market capitalization of $1.2 trillion were listed on US markets, at least 11 of which were state-owned, according to the Congressionally-mandated US-China Economic and Security Review Commission.

Among the largest were e-commerce giant Alibaba, China’s largest oil producer PetroChina and Sinopec, the world’s largest oil refiner.

 

 

 


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