Chinese IPO Count Drops to Zero in August Due to Intensified Scrutiny by U.S.
Translated by: MOS Gospel team – Lilian89
The latest report came out from Wall Street – there were zero IPOs of Chinese companies in August. A large number of Chinese companies listed in the U.S. have been exposed that they’ve involved in falsifying the financial documents. This is an outcome due to the infightings of the Chinese Communist Part getting more intensified. The investors of these companies inevitably suffered big losses in their portfolios.
The SEC has started pushing for further changes in its listing rules under the Foreign Company Accountability Act passed by the U.S. Congress in 2020. According to the act, if any companies refuse to comply, they will be delisted in year 2024 at the earliest. It is particularly hard-hitting news for an overwhelming number of Chinese companies.
This time the pressure actually comes from both ends – not only from U.S., but also domestically. The Communist regime just signaled on July 10 that new listings outside of China will require approvals from newly authorized regulators. This along with the setback encountered by DiDi symbolized the end of the wave of IPOs propped up by fundraising and financing by the losing faction of the Party.
Furthermore, the announcement on Sept. 2 of the establishment of the Beijing Stock Exchange is also part of the financial warfare declared by the CCP. This is an unprecedented plan geared to use the so-called “financial openness” to lure more international investments in order to extend its reach and rule the world.
The kleptocrats from all over the world are so good with the game of leveraging the stock markets to loot the wealth of the people. In order to satisfy their unsatiable appetite for money and self-interests, they are, and have been willing to be in bed with the CCP and collude with each other recklessly.
The Wall Street companies act perfectly as their intermediaries who get to take a cut in commission. The risks borne by the investors have been magnified significantly. A case in point, almost all the public pension funds and retirement funds for many advanced economies and organizations have fallen victim to this Ponzi scheme, which soon millions of investors will find out their life-savings are already depleted, their retirement dreams dashed.
Enhanced scrutiny against Chinese U.S stock-market-listed companies (RFI)
Proofread by: RD16
Edited by: RD16
Posted by: RD16
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