Posted on: May 19, 2021 Posted by: Betty Lee Comments: 0

BEIJING — The U.S. Treasury stated Tuesday it was suspending a ban on buying and selling shares of firms with alleged hyperlinks to the Chinese language army.

The brand new restrictions take impact June 11, versus the prior date of Might 27.

The transfer by U.S. President Joe Biden’s administration extends a grace interval for traders to adjust to an funding ban first introduced in November beneath former President Donald Trump. Solely a handful of the names, principally state-owned firms, are traded within the U.S.

Earlier this month, the U.S. agreed to take away Hong Kong-listed Chinese language smartphone maker Xiaomi from the blacklist.

However one other firm on the listing, telecommunications big China Cellular, stated earlier this month it anticipated to delist from the New York Inventory Trade. The corporate subsequently stated on Monday it might challenge yuan-denominated shares on the Shanghai inventory change.

Chinese language firms have rushed to go public within the U.S. within the final 18 months regardless of the political overhang. In late April, a consultant from the New York Inventory Trade stated about 60 Chinese language firms plan to listing within the U.S. this yr.

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