Aug 02, 2022 04:00 AM

FINANCE

Alibaba Added to U.S. List of Chinese Stocks Facing Expulsion

By Liu Ran and Denise Jia

Alibaba is seeking to elevate its trading status in Hong Kong from a secondary listing to a primary listing.

Alibaba is seeking to elevate its trading status in Hong Kong from a secondary listing to a primary listing.

American regulators added e-commerce giant Alibaba Group Holding Ltd. to a growing list of Chinese stocks that will be kicked off U.S. stock exchanges if authorities can’t inspect their books.

The U.S. Securities and Exchange Commission (SEC) made the move after the U.S. Public Company Accounting Oversight Board (PCAOB) couldn’t fully review the company’s audits for the fiscal year ended March 31, Alibaba said Monday.

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