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Wall Street Pushes Back on U.S. Threats to De-list Chinese Firms

  • Mutual funds and exchanges among participants at SEC event
  • Roundtable comes amid rising tensions between U.S. and China
A person sits on a bench outside the New York Stock Exchange in New York..

A person sits on a bench outside the New York Stock Exchange in New York..

Photographer: Angus Mordant/Bloomberg
Updated on

Vanguard Group Inc., the New York Stock Exchange and Nasdaq Inc. are pushing back on an escalating risk to their bottom lines: threats from Capitol Hill and the Trump administration to dramatically curtail U.S. investments in Chinese companies.

During a Thursday panel discussion hosted by the Securities and Exchange Commission, the firms’ executives questioned a bill under consideration in Washington that could lead to Alibaba Group Holding Ltd., Baidu Inc. and other Chinese businesses getting kicked out of American stock markets. The intent of the legislation is to force China to comply with U.S. accounting rules. But among the concerns raised was that it might just prompt companies to relocate to markets with less regulatory oversight.