Chinese companies, including state-owned enterprises (SOEs), may speed up plans to delist from U.S. stock markets amid tougher audit regulations and what is viewed as a politically motivated crackdown, market participants said.
After the U.S. Congress passed the Holding Foreign Companies Accountable Act late last year requiring issuers of securities in the U.S. to show they are not owned or controlled by a foreign government, Chinese enterprises have grown wary about going public on American bourses, insiders told Caixin. Some companies may choose to delist because they are not able to meet the act’s requirements, said the insiders, who asked not to be identified so they could talk candidly.
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