JD.com, Pinduoduo Added to Chinese Stocks Facing Expulsion From U.S.
(Bloomberg) — U.S. regulators added more than 80 companies, including JD.com Inc., Pinduoduo Inc. and Bilibili Inc., to an expanding list of stocks that face expulsion from American exchanges because of a dispute with Beijing over access to the businesses’ financial audits.
The Securities and Exchange Commission Wednesday put the corporations on a provisional lineup of U.S.-traded Chinese businesses that face delisting under a 2020 law, starting a three-year clock to comply with inspection requirements. Some of the largest Chinese companies traded on U.S. exchanges, including China Petroleum & Chemical Corp., JinkoSolar Holding Co., NetEase Inc. and NIO Inc. were also added.
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