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Senate Passes Bill to Delist Chinese Companies From Exchanges

  • Companies controlled by foreign government would be banned
  • Senator Kennedy says he wants China to ‘play by the rules’
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U.S. Senate Passes Bill to Delist Chinese Companies From Exchanges
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The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

The bill, introduced by Senator John Kennedy, a Republican from Louisiana, and Chris Van Hollen, a Democrat from Maryland, was approved by unanimous consent and would require companies to certify that they are not under the control of a foreign government.