Now, according to the document, bidders need to be informed if a business is controlled or owned by a foreign government.
According to Interfax, the House of Representatives of the US Congress on Wednesday passed a bill that could prohibit some Chinese companies from listing their shares on US exchanges if they do not adhere to the country’s auditing standards.
“The Foreign Companies Accountability Act prohibits the listing of securities of foreign companies on any US exchange if they have not performed audits by the Public Company Accounting Oversight Board for three consecutive years”, – the US media reported.
The bill applies to companies from any country, but primarily targets Chinese companies.