Caixin
Nov 25, 2021 03:59 PM
BUSINESS

China Market Watchdog Says U.S. Delistings Bad for Relations, Hurt Firms

Traffic outside the Nasdaq MarketSite in New York on Nov. 10. Photo: Bloomberg
Traffic outside the Nasdaq MarketSite in New York on Nov. 10. Photo: Bloomberg

(Bloomberg) — A top official at China’s securities watchdog said Chinese firms being delisted from U.S. exchanges would be a setback for the companies as well as for relations with the U.S. as he offered broad support for Hong Kong as an international financial center and venue for stock listings.

Delistings from the U.S. market would hurt firms, global investors and the China-U.S. relationship, said Shen Bing, director-general of the Department of International Affairs at China Securities Regulatory Commission, at a Securities and Futures Commission forum in Hong Kong. The regulator fully supports Chinese firms in picking Hong Kong as a primary listing venue, he said.

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